Morgan Stanley Issues Pessimistic Forecast for Franklin Resources (NYSE:BEN) Stock Price

Franklin Resources (NYSE:BEN - Free Report) had its target price cut by Morgan Stanley from $18.00 to $15.00 in a research note released on Monday morning,Benzinga reports. They currently have an underweight rating on the closed-end fund's stock.

Several other equities analysts have also recently issued reports on the company. Bank of America lowered their price objective on Franklin Resources from $20.00 to $17.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Franklin Resources from $21.00 to $19.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. UBS Group lifted their target price on shares of Franklin Resources from $19.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Barclays boosted their target price on shares of Franklin Resources from $19.00 to $22.00 and gave the company an "underweight" rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group raised Franklin Resources from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $21.00 to $22.00 in a report on Monday, January 6th. Five research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, Franklin Resources has an average rating of "Hold" and a consensus price target of $19.63.

Franklin Resources Stock Up 0.9 %

NYSE:BEN traded up $0.17 during trading hours on Monday, reaching $17.89. 5,794,767 shares of the company traded hands, compared to its average volume of 4,360,795. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The business's 50-day moving average price is $19.60 and its two-hundred day moving average price is $20.37. Franklin Resources has a 1 year low of $16.25 and a 1 year high of $26.16. The stock has a market capitalization of $9.39 billion, a P/E ratio of 27.52, a P/E/G ratio of 2.31 and a beta of 1.36.

Franklin Resources (NYSE:BEN - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. Franklin Resources had a net margin of 4.32% and a return on equity of 9.45%. During the same period in the previous year, the business posted $0.65 EPS. Analysts predict that Franklin Resources will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Monday, March 31st were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 7.16%. The ex-dividend date of this dividend was Monday, March 31st. Franklin Resources's dividend payout ratio is 196.92%.

Hedge Funds Weigh In On Franklin Resources

A number of hedge funds have recently modified their holdings of BEN. Xponance Inc. lifted its stake in shares of Franklin Resources by 1.2% during the 4th quarter. Xponance Inc. now owns 43,687 shares of the closed-end fund's stock valued at $886,000 after buying an additional 497 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of 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 valued at $33,000 after acquiring an additional 505 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Franklin Resources by 6.2% in the fourth quarter. Bessemer Group Inc. now owns 8,789 shares of the closed-end fund's stock worth $177,000 after acquiring an additional 510 shares during the period. Hardy Reed LLC grew its position in shares of Franklin Resources by 3.7% during the fourth quarter. Hardy Reed LLC now owns 16,721 shares of the closed-end fund's stock worth $339,000 after purchasing an additional 591 shares in the last quarter. Finally, Anchor Investment Management LLC raised its stake in Franklin Resources by 30.2% during the 3rd quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund's stock valued at $52,000 after purchasing an additional 604 shares during the period. 47.56% of the stock is currently owned by 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.