Franklin Resources (NYSE:BEN) Given New $21.00 Price Target at Keefe, Bruyette & Woods

Franklin Resources (NYSE:BEN - Free Report) had its target price lifted by Keefe, Bruyette & Woods from $19.00 to $21.00 in a research report report published on Monday morning, Marketbeat reports. Keefe, Bruyette & Woods currently has an underperform rating on the closed-end fund's stock.

Several other research firms have also recently weighed in on BEN. Morgan Stanley upped their price objective on shares of Franklin Resources from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft cut their target price on Franklin Resources from $20.00 to $19.00 and set a "hold" rating for the company in a research note on Tuesday, November 5th. Barclays cut their target price on Franklin Resources from $21.00 to $19.00 and set an "underweight" rating for the company in a research note on Friday, January 17th. JPMorgan Chase & Co. cut their target price on Franklin Resources from $21.00 to $19.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Finally, StockNews.com raised Franklin Resources from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $20.86.

Franklin Resources Price Performance

Shares of Franklin Resources stock traded down $0.05 on Monday, reaching $20.61. The stock had a trading volume of 2,755,694 shares, compared to its average volume of 4,814,121. Franklin Resources has a 1 year low of $18.83 and a 1 year high of $28.61. The company has a market cap of $10.80 billion, a P/E ratio of 31.70, a price-to-earnings-growth ratio of 1.51 and a beta of 1.42. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.92. The business's 50 day moving average is $20.75 and its two-hundred day moving average is $20.92.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. Franklin Resources had a net margin of 4.32% and a return on equity of 9.41%. During the same period in the previous year, the business earned $0.65 EPS. As a group, research analysts anticipate that Franklin Resources will post 2.19 EPS for the current year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.21%. Franklin Resources's dividend payout ratio is currently 196.93%.

Institutional Trading of Franklin Resources

Institutional investors have recently modified their holdings of the company. MFA Wealth Advisors LLC purchased a new stake in shares of Franklin Resources during the third quarter worth about $26,000. Matrix Trust Co purchased a new stake in shares of Franklin Resources during the third quarter worth about $29,000. Smartleaf Asset Management LLC raised its stake 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 in the last quarter. Larson Financial Group LLC raised 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 buying an additional 1,277 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in Franklin Resources in the third quarter worth about $39,000. 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.