Franklin Resources, Inc. (NYSE:BEN) Given Average Rating of “Reduce” by Brokerages

Shares of Franklin Resources, Inc. (NYSE:BEN) have received a consensus recommendation of “Reduce” from the eleven analysts that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $20.18.

Several research firms have recently weighed in on BEN. Barclays dropped their price target on shares of Franklin Resources from $21.00 to $19.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. UBS Group cut their target price on Franklin Resources from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Morgan Stanley upped their price target on Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. lowered their price target on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $19.00 target price (down previously from $20.00) on shares of Franklin Resources in a research report on Tuesday, November 5th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC acquired a new stake in shares of Franklin Resources in the 3rd quarter valued at $26,000. Altshuler Shaham Ltd acquired a new stake in Franklin Resources in the second quarter valued at $27,000. Matrix Trust Co acquired a new stake in Franklin Resources in the third quarter valued at $29,000. Larson Financial Group LLC lifted its holdings in Franklin Resources by 254.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock worth $36,000 after buying an additional 1,277 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Franklin Resources in the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Franklin Resources Price Performance

NYSE:BEN opened at $20.08 on Monday. Franklin Resources has a one year low of $18.83 and a one year high of $28.61. The stock has a market cap of $10.52 billion, a PE ratio of 23.35, a P/E/G ratio of 1.28 and a beta of 1.41. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a 50 day moving average price of $20.97 and a 200 day moving average price of $21.08.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Monday, November 4th. The closed-end fund reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Franklin Resources had a return on equity of 9.62% and a net margin of 5.48%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. Equities research analysts expect that Franklin Resources will post 2.32 EPS for the current fiscal year.

Franklin Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Monday, December 30th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.37%. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, December 30th. Franklin Resources’s dividend payout ratio is presently 148.84%.

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.