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

Shares of Franklin Resources, Inc. (NYSE:BEN) have earned a consensus recommendation of “Reduce” from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $24.6364.

A number of brokerages have recently issued reports on BEN. Wall Street Zen cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Barclays lifted their price objective on shares of Franklin Resources from $22.00 to $25.00 and gave the stock an “underweight” rating in a research note on Thursday, January 15th. JPMorgan Chase & Co. decreased their target price on shares of Franklin Resources from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Bank of America lifted their price target on shares of Franklin Resources from $19.00 to $22.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. Finally, BMO Capital Markets assumed coverage on Franklin Resources in a research report on Friday, October 3rd. They set an “outperform” rating and a $26.00 price target on the stock.

Hedge Funds Weigh In On Franklin Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its stake in shares of Franklin Resources by 4.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,751 shares of the closed-end fund’s stock valued at $233,000 after purchasing an additional 397 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Franklin Resources by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 102,708 shares of the closed-end fund’s stock valued at $2,376,000 after acquiring an additional 497 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Franklin Resources by 4.5% during the third quarter. Asset Management One Co. Ltd. now owns 12,287 shares of the closed-end fund’s stock valued at $284,000 after acquiring an additional 531 shares during the last quarter. ORG Wealth Partners LLC grew its holdings in Franklin Resources by 3.7% during the 4th quarter. ORG Wealth Partners LLC now owns 16,343 shares of the closed-end fund’s stock worth $390,000 after acquiring an additional 577 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in shares of Franklin Resources by 3.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 17,150 shares of the closed-end fund’s stock worth $397,000 after acquiring an additional 583 shares in the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Trading Up 0.8%

Shares of Franklin Resources stock opened at $25.88 on Friday. The stock has a market cap of $13.49 billion, a P/E ratio of 28.43, a P/E/G ratio of 1.22 and a beta of 1.44. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average is $24.18 and its 200-day moving average is $24.01. Franklin Resources has a 12-month low of $16.25 and a 12-month high of $26.25.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, November 7th. The closed-end fund reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Franklin Resources had a return on equity of 9.12% and a net margin of 5.98%.The business’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share. Equities research analysts predict that Franklin Resources will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Tuesday, December 30th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.1%. This is a boost from Franklin Resources’s previous quarterly dividend of $0.32. Franklin Resources’s dividend payout ratio (DPR) is 145.05%.

About Franklin Resources

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.