Franklin Resources, Inc. (NYSE:BEN) Receives $23.00 Average PT from Analysts

Franklin Resources, Inc. (NYSE:BEN) has earned a consensus rating of “Reduce” from the nine analysts that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $23.00.

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Franklin Resources from $24.00 to $23.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Barclays started coverage on Franklin Resources in a research note on Tuesday, August 27th. They set an “underweight” rating and a $20.00 price target on the stock. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $23.00 price objective on shares of Franklin Resources in a research note on Thursday, August 22nd. TD Cowen raised their target price on shares of Franklin Resources from $23.00 to $24.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, Evercore ISI lowered their price target on shares of Franklin Resources from $24.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th.

Franklin Resources Stock Down 0.2 %

Shares of BEN opened at $20.76 on Tuesday. The firm has a fifty day moving average price of $21.42 and a 200-day moving average price of $23.39. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $10.92 billion, a P/E ratio of 11.86, a P/E/G ratio of 2.45 and a beta of 1.39. Franklin Resources has a 12-month low of $18.94 and a 12-month high of $30.32.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, July 26th. The closed-end fund reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Franklin Resources had a net margin of 10.24% and a return on equity of 10.60%. Equities research analysts expect that Franklin Resources will post 2.41 earnings per share for the current year.

Franklin Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 5.97%. The ex-dividend date of this dividend is Monday, September 30th. Franklin Resources’s dividend payout ratio is currently 70.86%.

Insider Buying and Selling at Franklin Resources

In related news, CEO Jennifer M. Johnson acquired 12,700 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average price of $19.66 per share, for a total transaction of $249,682.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,637,700 shares in the company, valued at approximately $51,857,182. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Jennifer M. Johnson acquired 12,700 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average cost of $19.66 per share, with a total value of $249,682.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,637,700 shares of the company’s stock, valued at $51,857,182. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jennifer M. Johnson bought 18,900 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $20.95 per share, for a total transaction of $395,955.00. Following the completion of the transaction, the chief executive officer now owns 216,900 shares in the company, valued at $4,544,055. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 231,600 shares of company stock worth $4,537,637. 24.13% of the stock is owned by insiders.

Institutional Investors Weigh In On Franklin Resources

A number of institutional investors and hedge funds have recently modified their holdings of BEN. Altshuler Shaham Ltd purchased a new position in Franklin Resources during the 2nd quarter worth approximately $27,000. Sentry Investment Management LLC purchased a new position in shares of Franklin Resources during the second quarter worth $30,000. Headlands Technologies LLC purchased a new stake in Franklin Resources in the first quarter valued at $32,000. Principal Securities Inc. acquired a new stake in Franklin Resources during the 4th quarter worth about $35,000. Finally, Denali Advisors LLC purchased a new position in shares of Franklin Resources during the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

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.