Franklin Resources, Inc. (NYSE:BEN) Receives $20.86 Consensus Target Price from Analysts

Franklin Resources, Inc. (NYSE:BEN) has been assigned a consensus recommendation of “Reduce” from the eleven research firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $20.86.

Several analysts have recently commented on BEN shares. The Goldman Sachs Group raised shares of Franklin Resources from a “sell” rating to a “neutral” rating and lifted their price target for the company from $21.00 to $22.00 in a research report on Monday, January 6th. UBS Group lifted their target price on Franklin Resources from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods increased their price target on Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” rating in a report on Monday, February 3rd. Barclays boosted their price objective on shares of Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. Finally, Morgan Stanley increased their target price on shares of Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th.

Institutional Investors Weigh In On Franklin Resources

A number of hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC increased its position in shares of Franklin Resources by 301.4% during the third quarter. Exchange Traded Concepts LLC now owns 5,074 shares of the closed-end fund’s stock worth $102,000 after acquiring an additional 3,810 shares during the period. Swedbank AB increased its holdings in Franklin Resources by 78.3% during the 3rd quarter. Swedbank AB now owns 62,076 shares of the closed-end fund’s stock worth $1,251,000 after purchasing an additional 27,259 shares during the period. Twelve Points Wealth Management LLC raised its position in Franklin Resources by 58.2% in the 3rd quarter. Twelve Points Wealth Management LLC now owns 132,569 shares of the closed-end fund’s stock valued at $2,671,000 after purchasing an additional 48,753 shares in the last quarter. B.O.S.S. Retirement Advisors LLC raised its position in Franklin Resources by 9.6% in the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 62,254 shares of the closed-end fund’s stock valued at $1,254,000 after purchasing an additional 5,454 shares in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in shares of Franklin Resources by 21.2% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 11,650 shares of the closed-end fund’s stock valued at $235,000 after buying an additional 2,038 shares during the period. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Stock Performance

NYSE BEN opened at $20.76 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.66 and a current ratio of 1.66. The stock’s fifty day moving average is $20.35 and its two-hundred day moving average is $20.76. The firm has a market capitalization of $10.90 billion, a P/E ratio of 31.93, a price-to-earnings-growth ratio of 2.17 and a beta of 1.42. Franklin Resources has a fifty-two week low of $18.83 and a fifty-two week high of $28.61.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data 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 9.45%. During the same period last year, the company earned $0.65 earnings per share. On average, research analysts anticipate that Franklin Resources will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.17%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s dividend payout ratio (DPR) is currently 196.93%.

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.