Franklin Resources, Inc. (NYSE:BEN) Receives Average Recommendation of "Reduce" from Analysts

Shares of Franklin Resources, Inc. (NYSE:BEN - Get Free Report) have earned an average recommendation of "Reduce" from the eleven brokerages that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $20.66.

BEN has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Franklin Resources from $20.00 to $19.00 and set a "hold" rating for the company in a research report on Tuesday, November 5th. The Goldman Sachs Group dropped their price objective on shares of Franklin Resources from $23.75 to $21.25 and set a "sell" rating for the company in a report on Monday, September 30th. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $19.00 target price (down from $20.00) on shares of Franklin Resources in a report on Tuesday, November 5th. StockNews.com raised Franklin Resources from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Finally, Evercore ISI cut their price target on Franklin Resources from $20.00 to $19.00 and set an "underperform" rating for the company in a report on Friday, October 4th.

Franklin Resources Price Performance

BEN stock traded up $0.08 during trading on Thursday, reaching $20.96. The company's stock had a trading volume of 2,262,330 shares, compared to its average volume of 4,017,951. The company's fifty day moving average is $21.42 and its 200-day moving average is $21.46. Franklin Resources has a 1 year low of $18.94 and a 1 year high of $30.32. The company has a market capitalization of $10.98 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 2.43 and a beta of 1.39. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.92.

Franklin Resources (NYSE:BEN - Get Free Report) last released its earnings results on Monday, November 4th. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). Franklin Resources had a return on equity of 9.62% and a net margin of 5.48%. The business had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $1.70 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, research analysts expect that Franklin Resources will post 2.39 earnings per share for the current fiscal year.

Franklin Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Monday, December 30th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.28 annualized dividend and a dividend yield of 6.11%. This is an increase from Franklin Resources's previous quarterly dividend of $0.31. Franklin Resources's payout ratio is currently 148.84%.

Insider Buying and Selling

In other Franklin Resources news, insider Franklin Resources Inc sold 8,467 shares of the firm's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $43.69, for a total value of $369,923.23. Following the completion of the sale, the insider now owns 51,019 shares of the company's stock, valued at $2,229,020.11. This trade represents a 14.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 24,024 shares of company stock worth $1,051,375 over the last three months. 24.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BEN. MFA Wealth Advisors LLC purchased a new position in Franklin Resources in the 3rd quarter worth about $26,000. Altshuler Shaham Ltd purchased a new position in shares of Franklin Resources during the second quarter worth approximately $27,000. Matrix Trust Co bought a new stake in shares of Franklin Resources during the third quarter valued at approximately $29,000. Sentry Investment Management LLC purchased a new stake in shares of Franklin Resources in the second quarter valued at approximately $30,000. Finally, Larson Financial Group LLC grew its stake in Franklin Resources by 254.4% in the third quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund's stock worth $36,000 after purchasing an additional 1,277 shares in the last quarter. Institutional investors own 47.56% of the company's stock.

Franklin Resources Company Profile

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.