Franklin Resources, Inc. (NYSE:BEN) Given Average Recommendation of “Reduce” by Analysts

Franklin Resources, Inc. (NYSE:BEN) has earned a consensus rating of “Reduce” from the fourteen research firms that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $24.0909.

Several analysts recently weighed in on BEN shares. BMO Capital Markets assumed coverage on Franklin Resources in a research report on Friday, October 3rd. They set an “outperform” rating and a $26.00 price objective for the company. Bank of America boosted their target price on Franklin Resources from $19.00 to $22.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. Wall Street Zen downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Barclays lifted their price target on shares of Franklin Resources from $20.00 to $22.00 and gave the company an “underweight” rating in a report on Friday, December 12th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Franklin Resources in a research note on Monday, December 29th.

Franklin Resources Stock Performance

NYSE BEN opened at $23.81 on Monday. The firm’s 50 day simple moving average is $23.04 and its 200 day simple moving average is $23.82. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 1.25 and a beta of 1.44. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.95. Franklin Resources has a 1 year low of $16.25 and a 1 year high of $26.08.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, November 7th. The closed-end fund reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Franklin Resources had a return on equity of 9.12% and a net margin of 5.98%.The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 earnings per share. As a group, research analysts expect that Franklin Resources will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Tuesday, December 30th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Tuesday, December 30th. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.32. Franklin Resources’s dividend payout ratio is currently 145.05%.

Institutional Investors Weigh In On Franklin Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of BEN. Public Employees Retirement System of Ohio raised its position in Franklin Resources by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 102,708 shares of the closed-end fund’s stock valued at $2,376,000 after purchasing an additional 497 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Franklin Resources by 4.5% in the third quarter. Asset Management One Co. Ltd. now owns 12,287 shares of the closed-end fund’s stock valued at $284,000 after buying an additional 531 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Franklin Resources by 3.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 17,150 shares of the closed-end fund’s stock valued at $397,000 after buying an additional 583 shares during the last quarter. Gotham Asset Management LLC boosted its position in Franklin Resources by 0.5% during the 3rd quarter. Gotham Asset Management LLC now owns 122,857 shares of the closed-end fund’s stock worth $2,842,000 after buying an additional 641 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in Franklin Resources by 7.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 9,354 shares of the closed-end fund’s stock worth $216,000 after acquiring an additional 671 shares during the last quarter. Institutional investors own 47.56% of the company’s stock.

About Franklin Resources

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.