UBS Group Forecasts Strong Price Appreciation for Franklin Resources (NYSE:BEN) Stock

Franklin Resources (NYSE:BEN) had its price target upped by UBS Group from $19.00 to $23.00 in a research note issued to investors on Monday,Benzinga reports. UBS Group currently has a neutral rating on the closed-end fund’s stock.

Several other equities analysts have also issued reports on BEN. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Franklin Resources from $20.00 to $19.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. The Goldman Sachs Group upgraded Franklin Resources from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $21.00 to $22.00 in a research note on Monday, January 6th. BMO Capital Markets increased their target price on Franklin Resources from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Monday. Keefe, Bruyette & Woods lifted their price target on Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” rating in a research report on Monday. Finally, StockNews.com raised shares of Franklin Resources from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.86.

Franklin Resources Price Performance

BEN opened at $20.65 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.92. The company has a market cap of $10.82 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 1.51 and a beta of 1.42. The stock has a fifty day simple moving average of $20.79 and a two-hundred day simple moving average of $20.93. Franklin Resources has a 12-month low of $18.83 and a 12-month high of $28.61.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. Franklin Resources had a net margin of 4.32% and a return on equity of 9.41%. During the same period last year, the business posted $0.65 earnings per share. Research analysts predict that Franklin Resources will post 2.19 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s payout ratio is presently 196.93%.

Institutional Investors Weigh In On Franklin Resources

Large investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its stake in shares of Franklin Resources by 44.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 505 shares during the period. PNC Financial Services Group Inc. increased its holdings in Franklin Resources by 0.8% during the third quarter. PNC Financial Services Group Inc. now owns 69,585 shares of the closed-end fund’s stock valued at $1,402,000 after buying an additional 572 shares during the last quarter. Hardy Reed LLC raised its position in Franklin Resources by 3.7% in the fourth quarter. Hardy Reed LLC now owns 16,721 shares of the closed-end fund’s stock worth $339,000 after acquiring an additional 591 shares during the period. Anchor Investment Management LLC boosted its stake in shares of Franklin Resources by 30.2% during the 3rd quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund’s stock worth $52,000 after acquiring an additional 604 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its position in shares of Franklin Resources by 3.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 19,485 shares of the closed-end fund’s stock valued at $393,000 after acquiring an additional 609 shares during the period. Institutional investors 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.