Evercore ISI Issues Positive Forecast for Franklin Resources (NYSE:BEN) Stock Price

Franklin Resources (NYSE:BEN) had its price objective raised by Evercore ISI from $26.00 to $28.00 in a research report report published on Monday,Benzinga reports. The firm currently has an underperform rating on the closed-end fund’s stock.

A number of other equities research analysts have also recently issued reports on the company. Barclays upped their price objective on Franklin Resources from $22.00 to $25.00 and gave the stock an “underweight” rating in a research note on Thursday, January 15th. Wall Street Zen upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. decreased their price objective on shares of Franklin Resources from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. TD Cowen dropped their target price on shares of Franklin Resources from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Franklin Resources in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $25.78.

Franklin Resources Trading Up 1.7%

Shares of NYSE:BEN opened at $27.08 on Monday. The company’s 50-day moving average price is $24.38 and its two-hundred day moving average price is $24.04. Franklin Resources has a one year low of $16.25 and a one year high of $27.20. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $14.12 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, January 30th. The closed-end fund reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.15. Franklin Resources had a return on equity of 9.59% and a net margin of 6.97%.The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. Franklin Resources’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts forecast that Franklin Resources will post 2.16 EPS for the current fiscal year.

Franklin Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Tuesday, December 30th were paid a $0.33 dividend. This is an increase from Franklin Resources’s previous quarterly dividend of $0.32. The ex-dividend date was Tuesday, December 30th. This represents a $1.32 dividend on an annualized basis and a yield of 4.9%. Franklin Resources’s dividend payout ratio (DPR) is currently 122.22%.

Institutional Investors Weigh In On Franklin Resources

A number of institutional investors have recently made changes to their positions in BEN. Capital A Wealth Management LLC increased its stake in shares of Franklin Resources by 3,869.2% during the second quarter. Capital A Wealth Management LLC now owns 1,032 shares of the closed-end fund’s stock worth $25,000 after purchasing an additional 1,006 shares during the period. Root Financial Partners LLC acquired a new position in Franklin Resources in the 3rd quarter valued at $25,000. Danske Bank A S bought a new position in Franklin Resources during the 4th quarter worth $26,000. Total Investment Management Inc. acquired a new stake in shares of Franklin Resources during the second quarter worth $27,000. Finally, Rakuten Securities Inc. boosted its position in shares of Franklin Resources by 277.0% in the fourth quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund’s stock valued at $27,000 after acquiring an additional 845 shares during the period. Institutional investors own 47.56% of the company’s stock.

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.