Franklin Resources, Inc. (BEN) to Distribute Quarterly Dividend of $0.31 on April 12th

Franklin Resources, Inc. (NYSE:BENGet Free Report) announced a quarterly dividend on Tuesday, February 6th, RTT News reports. Shareholders of record on Thursday, March 28th will be paid a dividend of 0.31 per share by the closed-end fund on Friday, April 12th. This represents a $1.24 dividend on an annualized basis and a yield of 4.64%.

Franklin Resources has decreased its dividend by an average of 6.2% annually over the last three years and has increased its dividend every year for the last 44 years. Franklin Resources has a dividend payout ratio of 42.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Franklin Resources to earn $2.84 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 43.7%.

Franklin Resources Stock Up 0.3 %

Shares of NYSE:BEN opened at $26.72 on Thursday. The stock’s 50-day moving average price is $27.89 and its two-hundred day moving average price is $26.14. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.86. Franklin Resources has a 12-month low of $21.88 and a 12-month high of $32.13. The firm has a market cap of $14.07 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.37 and a beta of 1.41.

Franklin Resources (NYSE:BENGet Free Report) last released its quarterly earnings data on Monday, January 29th. The closed-end fund reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.51 billion. Franklin Resources had a return on equity of 11.15% and a net margin of 12.30%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. On average, research analysts forecast that Franklin Resources will post 2.49 EPS for the current year.

Wall Street Analysts Forecast Growth

BEN has been the topic of several recent research reports. Wells Fargo & Company raised Franklin Resources from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $24.00 to $30.00 in a research report on Monday, January 8th. UBS Group boosted their price target on Franklin Resources from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. BMO Capital Markets boosted their price target on Franklin Resources from $27.00 to $30.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 30th. TD Cowen initiated coverage on Franklin Resources in a research report on Thursday, January 4th. They set a “market perform” rating and a $32.00 price target on the stock. Finally, StockNews.com lowered Franklin Resources from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Four analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $27.05.

View Our Latest Research Report on Franklin Resources

Insiders Place Their Bets

In other Franklin Resources news, EVP Alok Sethi sold 25,000 shares of Franklin Resources stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $25.38, for a total transaction of $634,500.00. Following the sale, the executive vice president now directly owns 92,481 shares in the company, valued at approximately $2,347,167.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 24.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On Franklin Resources

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Franklin Resources by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 34,072,606 shares of the closed-end fund’s stock valued at $951,307,000 after acquiring an additional 1,390,583 shares during the last quarter. Capital Research Global Investors boosted its position in Franklin Resources by 0.9% during the 1st quarter. Capital Research Global Investors now owns 8,693,626 shares of the closed-end fund’s stock valued at $242,726,000 after purchasing an additional 80,446 shares during the period. Invesco Ltd. boosted its position in Franklin Resources by 30.9% during the 1st quarter. Invesco Ltd. now owns 5,507,038 shares of the closed-end fund’s stock valued at $153,758,000 after purchasing an additional 1,298,729 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Franklin Resources by 7.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,833,431 shares of the closed-end fund’s stock valued at $134,950,000 after purchasing an additional 345,868 shares during the period. Finally, Morgan Stanley boosted its position in Franklin Resources by 7.7% during the 4th quarter. Morgan Stanley now owns 4,052,116 shares of the closed-end fund’s stock valued at $106,895,000 after purchasing an additional 291,042 shares during the period. 46.53% of the stock is currently owned by institutional investors.

About Franklin Resources

(Get Free Report)

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.

Featured Articles

Dividend History for Franklin Resources (NYSE:BEN)

Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.