Franklin Resources, Inc. (NYSE:BEN) Receives $21.83 Average PT from Brokerages

Shares of Franklin Resources, Inc. (NYSE:BEN) have received an average recommendation of “Reduce” from the thirteen analysts that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $21.92.

A number of analysts have commented on BEN shares. Bank of America cut their price target on shares of Franklin Resources from $20.00 to $17.00 and set an “underperform” rating for the company in a research note on Thursday, April 3rd. JPMorgan Chase & Co. increased their price target on shares of Franklin Resources from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, July 10th. Cowen reiterated a “buy” rating on shares of Franklin Resources in a research note on Monday, June 16th. Barclays increased their price target on shares of Franklin Resources from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of Franklin Resources from $21.50 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th.

Institutional Trading of Franklin Resources

A number of hedge funds have recently modified their holdings of the stock. ORG Wealth Partners LLC lifted its stake in shares of Franklin Resources by 195.2% during the 2nd quarter. ORG Wealth Partners LLC now owns 22,783 shares of the closed-end fund’s stock worth $554,000 after buying an additional 15,065 shares during the last quarter. Twelve Points Wealth Management LLC raised its stake in Franklin Resources by 0.9% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 178,885 shares of the closed-end fund’s stock worth $4,266,000 after purchasing an additional 1,676 shares in the last quarter. Signaturefd LLC raised its stake in Franklin Resources by 51.9% in the 2nd quarter. Signaturefd LLC now owns 3,938 shares of the closed-end fund’s stock worth $94,000 after purchasing an additional 1,346 shares in the last quarter. Paragon Capital Management Ltd raised its stake in Franklin Resources by 11.5% in the 2nd quarter. Paragon Capital Management Ltd now owns 11,207 shares of the closed-end fund’s stock worth $267,000 after purchasing an additional 1,157 shares in the last quarter. Finally, Patton Fund Management Inc. acquired a new stake in Franklin Resources in the 2nd quarter worth about $281,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Stock Up 0.8%

Franklin Resources stock opened at $24.35 on Monday. The company has a market cap of $12.79 billion, a P/E ratio of 35.80, a price-to-earnings-growth ratio of 1.75 and a beta of 1.45. Franklin Resources has a 1-year low of $16.25 and a 1-year high of $25.36. The company has a fifty day simple moving average of $22.76 and a 200 day simple moving average of $20.65. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.93.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, May 2nd. The closed-end fund reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.44 billion. Franklin Resources had a net margin of 4.65% and a return on equity of 9.13%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. Research analysts anticipate that Franklin Resources will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date of this dividend was Friday, June 27th. Franklin Resources’s dividend payout ratio is presently 188.24%.

About Franklin Resources

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.