Franklin Resources, Inc. (NYSE:BEN) Receives $20.86 Consensus Price Target from Analysts

Franklin Resources, Inc. (NYSE:BEN) has earned a consensus recommendation of “Reduce” from the eleven ratings firms that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $20.86.

BEN has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on Franklin Resources from $20.50 to $24.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. cut 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. Keefe, Bruyette & Woods raised their price target on shares of Franklin Resources from $19.00 to $21.00 and gave the company an “underperform” rating in a research report on Monday, February 3rd. BMO Capital Markets lifted their price objective on shares of Franklin Resources from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Finally, Morgan Stanley increased their target price 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.

Franklin Resources Stock Down 0.6 %

Shares of Franklin Resources stock opened at $20.76 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. The company has a market cap of $10.90 billion, a P/E ratio of 31.93, a PEG ratio of 2.17 and a beta of 1.42. The firm’s 50 day moving average price is $20.35 and its 200-day moving average price is $20.76. Franklin Resources has a 52-week low of $18.83 and a 52-week high of $28.61.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, beating 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 quarter last year, the business posted $0.65 EPS. On average, sell-side analysts predict that Franklin Resources will post 2.16 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 6.17%. The ex-dividend date is Monday, March 31st. Franklin Resources’s payout ratio is 196.93%.

Hedge Funds Weigh In On Franklin Resources

Hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Franklin Resources during the fourth quarter worth approximately $53,676,000. Two Sigma Advisers LP boosted its stake in Franklin Resources by 173.7% during the 4th quarter. Two Sigma Advisers LP now owns 3,531,700 shares of the closed-end fund’s stock worth $71,658,000 after purchasing an additional 2,241,500 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of Franklin Resources by 132.7% during the fourth quarter. Two Sigma Investments LP now owns 2,935,292 shares of the closed-end fund’s stock worth $59,557,000 after buying an additional 1,673,971 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Franklin Resources by 33.1% during the fourth quarter. First Trust Advisors LP now owns 6,438,863 shares of the closed-end fund’s stock worth $130,645,000 after buying an additional 1,599,849 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Franklin Resources by 19.6% in the fourth quarter. ProShare Advisors LLC now owns 9,403,875 shares of the closed-end fund’s stock valued at $190,805,000 after buying an additional 1,542,478 shares during the last quarter. Institutional investors and hedge funds 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.