Franklin Resources, Inc. (NYSE:BEN) Given Consensus Rating of “Reduce” by Brokerages

Shares of Franklin Resources, Inc. (NYSE:BEN) have been assigned an average rating of “Reduce” from the eleven analysts that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $25.8889.

Several equities analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Franklin Resources from $22.00 to $25.00 and gave the company an “underweight” rating in a report on Thursday, January 15th. Evercore boosted their target price on Franklin Resources from $26.00 to $28.00 and gave the company an “underperform” rating in a research note on Monday, February 2nd. Wall Street Zen raised Franklin Resources from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Morgan Stanley boosted their price objective on Franklin Resources from $21.00 to $22.00 and gave the company an “underweight” rating in a research report on Tuesday, February 3rd. 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

Shares of BEN stock opened at $27.04 on Tuesday. The stock has a market cap of $14.08 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 0.86 and a beta of 1.46. The stock has a 50-day moving average of $25.70 and a 200-day moving average of $24.33. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.86 and a quick ratio of 1.86. Franklin Resources has a one year low of $16.25 and a one year high of $28.32.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, January 30th. The closed-end fund reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.15. Franklin Resources had a net margin of 6.97% and a return on equity of 9.58%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts expect that Franklin Resources will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.32 annualized dividend and a dividend yield of 4.9%. Franklin Resources’s dividend payout ratio is currently 122.22%.

Hedge Funds Weigh In On Franklin Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital A Wealth Management LLC grew its holdings in shares of Franklin Resources by 3,869.2% in the 2nd quarter. Capital A Wealth Management LLC now owns 1,032 shares of the closed-end fund’s stock valued at $25,000 after acquiring an additional 1,006 shares in the last quarter. Root Financial Partners LLC bought a new position in Franklin Resources in the third quarter valued at approximately $25,000. Danske Bank A S acquired a new position in shares of Franklin Resources during the 4th quarter worth approximately $26,000. Total Investment Management Inc. bought a new stake in shares of Franklin Resources during the 2nd quarter worth approximately $27,000. Finally, Rakuten Securities Inc. raised its stake in shares of Franklin Resources by 277.0% during the 4th quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund’s stock worth $27,000 after purchasing an additional 845 shares in the last quarter. 47.56% of the stock is owned by institutional investors and hedge funds.

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.