Brokerages Set Franklin Resources, Inc. (NYSE:BEN) PT at $20.25

Shares of Franklin Resources, Inc. (NYSE:BEN) have been assigned a consensus recommendation of “Reduce” from the thirteen brokerages that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $20.25.

A number of analysts recently commented on the stock. Barclays upped their price objective on shares of Franklin Resources from $17.00 to $19.00 and gave the company an “underweight” rating in a research report on Monday, May 5th. Evercore ISI lowered their price objective on shares of Franklin Resources from $19.00 to $17.00 and set an “underperform” rating for the company in a research report on Friday, April 11th. Cowen restated a “buy” rating on shares of Franklin Resources in a research report on Monday, June 16th. TD Cowen upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, May 14th. Finally, Bank of America lowered their target price on Franklin Resources from $20.00 to $17.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd.

Hedge Funds Weigh In On Franklin Resources

A number of large investors have recently modified their holdings of the business. Maple Capital Management Inc. acquired a new position in shares of Franklin Resources during the 1st quarter worth about $192,000. Modern Wealth Management LLC boosted its stake in shares of Franklin Resources by 58.1% during the 1st quarter. Modern Wealth Management LLC now owns 245,708 shares of the closed-end fund’s stock worth $4,730,000 after buying an additional 90,277 shares during the last quarter. Strs Ohio acquired a new position in shares of Franklin Resources during the 1st quarter worth about $3,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Franklin Resources by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,077,880 shares of the closed-end fund’s stock worth $39,999,000 after buying an additional 166,681 shares during the last quarter. Finally, Woodline Partners LP boosted its stake in shares of Franklin Resources by 41.1% during the 1st quarter. Woodline Partners LP now owns 26,189 shares of the closed-end fund’s stock worth $504,000 after buying an additional 7,634 shares during the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Price Performance

BEN opened at $22.77 on Thursday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.93. Franklin Resources has a 12 month low of $16.25 and a 12 month high of $24.37. The company has a fifty day simple moving average of $20.75 and a 200 day simple moving average of $20.28. The stock has a market cap of $11.97 billion, a P/E ratio of 33.49, a P/E/G ratio of 3.07 and a beta of 1.43.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, May 2nd. The closed-end fund reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. Franklin Resources had a net margin of 4.65% and a return on equity of 9.13%. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. On average, research analysts expect that Franklin Resources will post 2.16 EPS for the current year.

Franklin Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend is Friday, June 27th. Franklin Resources’s dividend payout ratio (DPR) is presently 188.24%.

Franklin Resources Company Profile

Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.