Franklin Resources, Inc. (NYSE:BEN) Receives Average Rating of “Hold” from Brokerages

Franklin Resources, Inc. (NYSE:BENGet Rating) has been given a consensus rating of “Hold” by the eight analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $31.57.

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Franklin Resources from $28.00 to $25.00 in a report on Thursday. StockNews.com assumed coverage on shares of Franklin Resources in a report on Thursday, March 31st. They set a “hold” rating on the stock. Citigroup lowered shares of Franklin Resources from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $44.50 to $28.00 in a report on Tuesday, April 12th. Morgan Stanley dropped their price objective on shares of Franklin Resources from $30.00 to $28.00 and set an “underweight” rating on the stock in a report on Friday, April 8th. Finally, Zacks Investment Research lowered shares of Franklin Resources from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a report on Monday, January 24th.

BEN stock opened at $25.80 on Friday. The firm has a market cap of $12.90 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 4.22 and a beta of 1.14. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.70. Franklin Resources has a 12-month low of $23.63 and a 12-month high of $38.27. The company’s fifty day simple moving average is $26.41 and its 200 day simple moving average is $30.44.

Franklin Resources (NYSE:BENGet Rating) last released its earnings results on Tuesday, May 3rd. The closed-end fund reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.17. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.08 billion. Franklin Resources had a net margin of 22.02% and a return on equity of 18.34%. Franklin Resources’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 earnings per share. Research analysts expect that Franklin Resources will post 3.77 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.50%. The ex-dividend date was Wednesday, March 30th. Franklin Resources’s payout ratio is presently 31.18%.

In other news, insider Franklin Resources Inc acquired 998,370 shares of Franklin Resources stock in a transaction on Friday, April 1st. The stock was acquired at an average cost of $12.27 per share, with a total value of $12,249,999.90. Following the transaction, the insider now owns 14,079,687 shares of the company’s stock, valued at approximately $172,757,759.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. London Co. of Virginia boosted its stake in Franklin Resources by 2.7% in the third quarter. London Co. of Virginia now owns 3,961,084 shares of the closed-end fund’s stock valued at $117,723,000 after acquiring an additional 103,256 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Franklin Resources by 339.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,176,779 shares of the closed-end fund’s stock valued at $34,974,000 after acquiring an additional 908,777 shares during the last quarter. AlphaCrest Capital Management LLC purchased a new position in Franklin Resources in the fourth quarter valued at about $1,548,000. DNB Asset Management AS boosted its stake in Franklin Resources by 5.6% in the fourth quarter. DNB Asset Management AS now owns 77,486 shares of the closed-end fund’s stock valued at $2,595,000 after acquiring an additional 4,140 shares during the last quarter. Finally, Insight Folios Inc boosted its stake in Franklin Resources by 1.0% in the fourth quarter. Insight Folios Inc now owns 183,021 shares of the closed-end fund’s stock valued at $6,129,000 after acquiring an additional 1,728 shares during the last quarter. Hedge funds and other institutional investors own 43.50% of the company’s stock.

Franklin Resources Company Profile (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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