Franklin Resources, Inc. (NYSE:BEN) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Franklin Resources, Inc. (NYSE:BENGet Rating) have been assigned an average rating of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $31.25.

Several analysts have recently issued reports on BEN shares. Deutsche Bank Aktiengesellschaft decreased their price target on Franklin Resources from $33.00 to $27.00 in a research note on Thursday, April 7th. Zacks Investment Research downgraded Franklin Resources from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a research note on Monday, January 24th. Morgan Stanley decreased their target price on Franklin Resources from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Friday, April 8th. Keefe, Bruyette & Woods downgraded Franklin Resources from an “outperform” rating to a “market perform” rating and set a $30.00 target price for the company. in a research note on Tuesday, April 12th. Finally, Citigroup cut Franklin Resources from a “buy” rating to a “neutral” rating and cut their price target for the company from $44.50 to $28.00 in a report on Tuesday, April 12th.

In related news, insider Franklin Resources Inc purchased 998,370 shares of Franklin Resources stock in a transaction dated Friday, April 1st. The shares were acquired at an average cost of $12.27 per share, for a total transaction of $12,249,999.90. Following the transaction, the insider now directly owns 14,079,687 shares of the company’s stock, valued at $172,757,759.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 23.30% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BEN. Morgan Stanley raised its holdings in Franklin Resources by 64.9% during the second quarter. Morgan Stanley now owns 2,644,418 shares of the closed-end fund’s stock worth $84,595,000 after acquiring an additional 1,040,575 shares in the last quarter. Sigma Planning Corp increased its position in Franklin Resources by 5.5% during the third quarter. Sigma Planning Corp now owns 9,884 shares of the closed-end fund’s stock worth $294,000 after buying an additional 512 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Franklin Resources in the third quarter valued at approximately $286,000. Nordea Investment Management AB grew its position in shares of Franklin Resources by 99.5% in the third quarter. Nordea Investment Management AB now owns 166,972 shares of the closed-end fund’s stock valued at $5,100,000 after purchasing an additional 83,256 shares during the last quarter. Finally, AE Wealth Management LLC lifted its stake in Franklin Resources by 9.3% during the third quarter. AE Wealth Management LLC now owns 10,832 shares of the closed-end fund’s stock worth $322,000 after purchasing an additional 926 shares during the last quarter. Institutional investors and hedge funds own 44.13% of the company’s stock.

NYSE:BEN opened at $26.63 on Tuesday. The business’s fifty day moving average price is $27.81 and its 200 day moving average price is $31.21. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.62. Franklin Resources has a 1-year low of $25.33 and a 1-year high of $38.27. The firm has a market capitalization of $13.37 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 3.00 and a beta of 1.14.

Franklin Resources (NYSE:BENGet Rating) last issued its earnings results on Tuesday, February 1st. The closed-end fund reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.20. Franklin Resources had a return on equity of 17.79% and a net margin of 22.41%. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities analysts forecast that Franklin Resources will post 3.58 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, March 31st were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, March 30th. This represents a $1.16 dividend on an annualized basis and a yield of 4.36%. Franklin Resources’s dividend payout ratio (DPR) is presently 30.69%.

About Franklin Resources (Get Rating)

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.

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Analyst Recommendations for Franklin Resources (NYSE:BEN)

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