Franklin Resources, Inc. (NYSE:BEN) Receives Average Rating of “Hold” from Brokerages

Shares of Franklin Resources, Inc. (NYSE:BEN) have received a consensus rating of “Hold” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $32.00.

A number of research firms have recently issued reports on BEN. JPMorgan Chase & Co. increased their price target on shares of Franklin Resources from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. TD Cowen upped their price objective on shares of Franklin Resources from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Barclays increased their target price on shares of Franklin Resources from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Morgan Stanley lifted their target price on shares of Franklin Resources from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday, June 26th. Finally, The Goldman Sachs Group boosted their price target on shares of Franklin Resources from $30.50 to $34.00 and gave the company a “buy” rating in a report on Wednesday, April 29th.

Franklin Resources Stock Down 0.2%

NYSE:BEN opened at $32.31 on Friday. The business’s fifty day moving average price is $32.45 and its 200 day moving average price is $28.52. The firm has a market capitalization of $16.79 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 0.72 and a beta of 1.54. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.10. Franklin Resources has a 1-year low of $21.10 and a 1-year high of $34.92.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Tuesday, April 28th. The closed-end fund reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.16. Franklin Resources had a return on equity of 10.58% and a net margin of 8.12%.The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the company posted $0.47 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that Franklin Resources will post 2.81 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 29th were paid a $0.33 dividend. The ex-dividend date was Monday, June 29th. This represents a $1.32 dividend on an annualized basis and a yield of 4.1%. Franklin Resources’s payout ratio is 100.76%.

Institutional Investors Weigh In On Franklin Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in BEN. Norges Bank bought a new stake in Franklin Resources in the fourth quarter worth approximately $98,168,000. Squarepoint Ops LLC raised its holdings in shares of Franklin Resources by 188.2% during the 4th quarter. Squarepoint Ops LLC now owns 4,131,559 shares of the closed-end fund’s stock valued at $98,703,000 after purchasing an additional 2,697,743 shares in the last quarter. Azora Capital LP lifted its stake in shares of Franklin Resources by 78.8% in the 4th quarter. Azora Capital LP now owns 5,796,575 shares of the closed-end fund’s stock valued at $138,480,000 after purchasing an additional 2,554,105 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Franklin Resources in the 2nd quarter valued at $51,384,000. Finally, Bank of New York Mellon Corp boosted its holdings in Franklin Resources by 125.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,737,050 shares of the closed-end fund’s stock worth $89,278,000 after purchasing an additional 2,078,369 shares in the last quarter. 47.56% of the stock is owned by hedge funds and other institutional investors.

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.