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

Shares of Franklin Resources, Inc. (NYSE:BEN) have received an average rating of “Reduce” from the eleven analysts that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $20.86.

Several analysts have recently commented on the company. JPMorgan Chase & Co. decreased their target price on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. UBS Group increased their target price on Franklin Resources from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. The Goldman Sachs Group upgraded Franklin Resources from a “sell” rating to a “neutral” rating and increased their target price for the stock from $21.00 to $22.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods upped their price target on Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a research note on Monday, February 3rd. Finally, Barclays upped their price target on Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd.

Franklin Resources Stock Performance

Shares of NYSE:BEN opened at $19.56 on Tuesday. The business’s fifty day moving average price is $20.08 and its two-hundred day moving average price is $20.56. Franklin Resources has a fifty-two week low of $18.83 and a fifty-two week high of $28.15. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.66.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. During the same quarter in the previous year, the firm earned $0.65 EPS. As a group, analysts predict that Franklin Resources will post 2.16 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 6.55%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s payout ratio is 196.92%.

Hedge Funds Weigh In On Franklin Resources

Several hedge funds have recently added to or reduced their stakes in the stock. Siemens Fonds Invest GmbH acquired a new stake in shares of Franklin Resources during the fourth quarter worth about $3,020,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Franklin Resources during the fourth quarter worth about $2,156,000. Perennial Advisors LLC acquired a new stake in shares of Franklin Resources during the fourth quarter worth about $295,000. Toronto Dominion Bank raised its position in shares of Franklin Resources by 7.5% during the fourth quarter. Toronto Dominion Bank now owns 162,446 shares of the closed-end fund’s stock worth $3,296,000 after purchasing an additional 11,367 shares during the period. Finally, North Star Asset Management Inc. raised its position in shares of Franklin Resources by 10.4% during the fourth quarter. North Star Asset Management Inc. now owns 16,970 shares of the closed-end fund’s stock worth $344,000 after purchasing an additional 1,600 shares during the period. 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.