Franklin Resources, Inc. (NYSE:BEN) Given Average Rating of "Reduce" by Brokerages

Franklin Resources, Inc. (NYSE:BEN - Get Free Report) has received a consensus rating of "Reduce" from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $20.86.

Several brokerages have recently weighed in on BEN. Morgan Stanley lifted their price target on shares of Franklin Resources from $18.00 to $19.00 and gave the stock an "underweight" rating in a research note on Friday, December 20th. Keefe, Bruyette & Woods boosted their price target on Franklin Resources from $19.00 to $21.00 and gave the company an "underperform" rating in a report on Monday, February 3rd. UBS Group upped their price target on Franklin Resources from $19.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. BMO Capital Markets lifted their price objective on Franklin Resources from $20.00 to $23.00 and gave the company a "market perform" rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Franklin Resources from $21.00 to $19.00 and set a "neutral" rating for the company in a report on Thursday, January 16th.

Franklin Resources Stock Performance

BEN traded up $0.64 during mid-day trading on Tuesday, reaching $19.56. 3,422,808 shares of the company traded hands, compared to its average volume of 4,255,920. The company's fifty day moving average price is $20.10 and its 200-day moving average price is $20.57. The stock has a market capitalization of $10.27 billion, a P/E ratio of 30.09, a P/E/G ratio of 2.31 and a beta of 1.42. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. Franklin Resources has a 52-week low of $18.83 and a 52-week high of $28.15.

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Franklin Resources (NYSE:BEN - Get Free Report) last posted its earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the prior year, the business earned $0.65 EPS. On average, sell-side analysts expect that Franklin Resources will post 2.16 EPS for the current year.

Franklin Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 6.55%. The ex-dividend date is Monday, March 31st. Franklin Resources's dividend payout ratio is presently 196.92%.

Hedge Funds Weigh In On Franklin Resources

Several institutional investors have recently bought and sold shares of BEN. CoreCap Advisors LLC lifted its holdings in shares of Franklin Resources by 147.1% in the 4th quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund's stock valued at $25,000 after acquiring an additional 737 shares during the last quarter. GeoWealth Management LLC boosted its holdings in shares of 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 lifted its position in Franklin Resources by 44.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund's stock worth $33,000 after buying an additional 505 shares during the last quarter. Headlands Technologies LLC bought a new position in Franklin Resources during the fourth quarter valued at $34,000. Finally, Larson Financial Group LLC raised its stake in shares of 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 valued at $36,000 after acquiring an additional 1,277 shares during the period. Institutional investors own 47.56% of the company's stock.

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.