Franklin Resources (NYSE:BEN) Stock Price Expected to Rise, Barclays Analyst Says

Franklin Resources (NYSE:BEN) had its price target hoisted by Barclays from $19.00 to $22.00 in a report released on Monday,Benzinga reports. The brokerage currently has an underweight rating on the closed-end fund’s stock.

Several other research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Franklin Resources from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods lifted their price objective on shares of Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” rating in a research report on Monday. The Goldman Sachs Group raised shares of Franklin Resources from a “sell” rating to a “neutral” rating and increased their price objective for the company from $21.00 to $22.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their target price on shares of Franklin Resources from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Morgan Stanley increased their price target on shares of Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Friday, December 20th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, Franklin Resources currently has an average rating of “Hold” and an average price target of $20.86.

Franklin Resources Stock Performance

NYSE BEN opened at $20.65 on Monday. The firm has a market capitalization of $10.82 billion, a P/E ratio of 31.78, a price-to-earnings-growth ratio of 1.51 and a beta of 1.42. 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 firm’s fifty day moving average price is $20.79 and its two-hundred day moving average price is $20.93. Franklin Resources has a 1 year low of $18.83 and a 1 year high of $28.61.

Franklin Resources (NYSE:BEN) last issued its earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business posted $0.65 EPS. As a group, research analysts anticipate that Franklin Resources will post 2.19 EPS for the current year.

Franklin Resources Dividend Announcement

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

Institutional Trading of Franklin Resources

Several large investors have recently modified their holdings of the stock. MFA Wealth Advisors LLC acquired a new position in Franklin Resources in the third quarter valued at about $26,000. Matrix Trust Co bought a new position in Franklin Resources in the 3rd quarter valued at about $29,000. Smartleaf Asset Management LLC raised its position 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 valued at $33,000 after buying an additional 505 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of 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 acquiring an additional 1,277 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of Franklin Resources during the 3rd quarter worth approximately $39,000. 47.56% of the stock is owned by institutional investors and hedge funds.

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.