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

Franklin Resources, Inc. (NYSE:BEN) has been assigned a consensus recommendation of “Reduce” from the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four 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 12 month price objective among analysts that have issued ratings on the stock in the last year is $25.8889.

Several equities research analysts recently commented on the stock. Evercore boosted their price target on shares of Franklin Resources from $26.00 to $28.00 and gave the stock an “underperform” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Franklin Resources in a research report on Monday, December 29th. Morgan Stanley boosted their target price on shares of Franklin Resources from $21.00 to $22.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 3rd. Wall Street Zen downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, 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 research note on Thursday, January 15th.

Franklin Resources Stock Down 1.9%

Franklin Resources stock opened at $23.43 on Friday. The stock has a market capitalization of $12.20 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 0.76 and a beta of 1.46. Franklin Resources has a 12 month low of $16.25 and a 12 month high of $28.32. The business has a 50 day simple moving average of $26.17 and a 200-day simple moving average of $24.37. 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 announced 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 9.58% and a net margin of 6.97%.The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the firm posted $0.59 EPS. The business’s revenue was up 3.4% on a year-over-year basis. On average, analysts anticipate that Franklin Resources will post 2.16 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.6%. Franklin Resources’s dividend payout ratio is presently 122.22%.

Institutional Trading of Franklin Resources

Institutional investors have recently made changes to their positions in the company. Capital A Wealth Management LLC raised its stake in Franklin Resources by 3,869.2% in the 2nd quarter. Capital A Wealth Management LLC now owns 1,032 shares of the closed-end fund’s stock valued at $25,000 after purchasing an additional 1,006 shares during the last quarter. Root Financial Partners LLC purchased a new position in Franklin Resources in the 3rd quarter valued at $25,000. Danske Bank A S acquired a new stake in Franklin Resources during the 4th quarter worth $26,000. Total Investment Management Inc. purchased a new stake in shares of Franklin Resources during the second quarter worth $27,000. Finally, Rakuten Securities Inc. grew its holdings in shares of Franklin Resources by 277.0% during the fourth quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund’s stock worth $27,000 after buying an additional 845 shares in the last quarter. 47.56% of the stock is owned by institutional investors and hedge funds.

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.