Analysts Set Franklin Resources, Inc. (NYSE:BEN) PT at $20.54

Franklin Resources, Inc. (NYSE:BEN - Get Free Report) has been given a consensus rating of "Reduce" by the twelve ratings firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $19.79.

A number of brokerages have issued reports on BEN. Bank of America reduced their price objective on shares of Franklin Resources from $20.00 to $17.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. TD Cowen decreased their price target on Franklin Resources from $20.00 to $17.50 and set a "hold" rating for the company in a research report on Wednesday. Morgan Stanley cut their price objective on Franklin Resources from $18.00 to $15.00 and set an "underweight" rating on the stock in a research report on Monday. Keefe, Bruyette & Woods raised their target price on Franklin Resources from $19.00 to $21.00 and gave the company an "underperform" rating in a research report on Monday, February 3rd. Finally, BMO Capital Markets boosted their price target on shares of Franklin Resources from $20.00 to $23.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd.

Franklin Resources Stock Up 11.6 %

Shares of BEN stock traded up $1.93 during trading hours on Friday, reaching $18.59. The company had a trading volume of 10,622,555 shares, compared to its average volume of 4,343,968. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 2.31 and a beta of 1.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.66. Franklin Resources has a 12 month low of $16.26 and a 12 month high of $27.06. The business has a fifty day simple moving average of $19.71 and a 200-day simple moving average of $20.41.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. During the same quarter in the previous year, the firm posted $0.65 EPS. On average, research analysts expect that Franklin Resources will post 2.16 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources's payout ratio is currently 196.92%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BEN. CoreCap Advisors LLC grew its position in shares of Franklin Resources by 147.1% in the fourth quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund's stock valued at $25,000 after purchasing an additional 737 shares in the last quarter. GeoWealth Management LLC boosted its stake in Franklin Resources by 350.4% in the 4th quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund's stock worth $26,000 after purchasing an additional 981 shares during the period. Smartleaf Asset Management LLC grew its holdings in Franklin Resources by 44.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund's stock valued at $33,000 after buying an additional 505 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Franklin Resources during the fourth quarter valued at about $34,000. Finally, Principal Securities Inc. lifted its holdings in shares of Franklin Resources by 561.1% in the fourth quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund's stock worth $40,000 after buying an additional 1,661 shares in the last quarter. 47.56% of the stock is currently owned by hedge funds and other institutional investors.

About Franklin Resources

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.