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

Franklin Resources, Inc. (NYSE:BEN) has received an average recommendation of “Reduce” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $25.8889.

BEN has been the topic of several research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Franklin Resources in a research report on Monday, December 29th. JPMorgan Chase & Co. reduced 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. Barclays raised their price target on shares of Franklin Resources from $22.00 to $25.00 and gave the company an “underweight” rating in a report on Thursday, January 15th. Wall Street Zen raised Franklin Resources from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, TD Cowen reiterated a “hold” rating on shares of Franklin Resources in a research report on Monday, February 2nd.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Franklin Resources during the 4th quarter worth approximately $98,168,000. Azora Capital LP acquired a new stake in Franklin Resources during the 2nd quarter worth $76,051,000. Squarepoint Ops LLC raised its position in shares of Franklin Resources by 188.2% during the 4th quarter. Squarepoint Ops LLC now owns 4,131,559 shares of the closed-end fund’s stock valued at $98,703,000 after acquiring an additional 2,697,743 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Franklin Resources in the 2nd quarter valued at $51,384,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Franklin Resources by 125.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,737,050 shares of the closed-end fund’s stock worth $89,278,000 after purchasing an additional 2,078,369 shares during the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.

Franklin Resources Stock Down 2.3%

Shares of BEN opened at $27.04 on Tuesday. The company has a market capitalization of $14.08 billion, a P/E ratio of 25.03, a PEG ratio of 0.86 and a beta of 1.46. Franklin Resources has a one year low of $16.25 and a one year high of $28.32. The business’s 50 day simple moving average is $25.70 and its 200-day simple moving average is $24.33. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.86 and a quick ratio of 1.86.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, January 30th. The closed-end fund reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.15. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $2.23 billion. Franklin Resources had a return on equity of 9.58% and a net margin of 6.97%.The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. As a group, sell-side analysts predict that Franklin Resources will post 2.16 EPS for the current fiscal year.

Franklin Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Tuesday, March 31st. Franklin Resources’s dividend payout ratio (DPR) is presently 122.22%.

Franklin Resources Company Profile

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.