Franklin Resources (NYSE:BEN) Price Target Raised to $22.00

Franklin Resources (NYSE:BEN) had its price objective upped by Barclays from $19.00 to $22.00 in a report published on Monday,Benzinga reports. They currently have an underweight rating on the closed-end fund’s stock.

BEN has been the topic of a number of other reports. Wells Fargo & Company increased their price target on shares of Franklin Resources from $20.50 to $24.00 and gave the company an “equal weight” rating in a research report on Monday. StockNews.com raised shares of Franklin Resources from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. lowered their price objective on shares of Franklin Resources from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective on Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” rating in a research note on Monday. Finally, BMO Capital Markets boosted their target price on Franklin Resources from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.86.

Franklin Resources Price Performance

BEN opened at $20.65 on Monday. The company has a fifty day moving average price of $20.79 and a two-hundred day moving average price of $20.93. The firm has a market capitalization of $10.82 billion, a PE ratio of 31.78, a P/E/G ratio of 1.51 and a beta of 1.42. Franklin Resources has a 52 week low of $18.83 and a 52 week high of $28.61. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.63 and a current ratio of 1.63.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. Franklin Resources had a return on equity of 9.41% and a net margin of 4.32%. During the same period in the prior year, the firm earned $0.65 earnings per share. As a group, analysts anticipate that Franklin Resources will post 2.19 earnings per share for the current 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 dividend of $0.32 per share. The ex-dividend date is Monday, March 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.20%. Franklin Resources’s payout ratio is presently 196.93%.

Institutional Investors Weigh In On Franklin Resources

Institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in shares of 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 worth $33,000 after acquiring an additional 505 shares in the last quarter. US Bancorp DE boosted its holdings in Franklin Resources by 15.3% during the fourth quarter. US Bancorp DE now owns 20,543 shares of the closed-end fund’s stock worth $417,000 after purchasing an additional 2,733 shares during the last quarter. QRG Capital Management Inc. grew its position in Franklin Resources by 12.0% in the fourth quarter. QRG Capital Management Inc. now owns 59,559 shares of the closed-end fund’s stock valued at $1,208,000 after purchasing an additional 6,364 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Franklin Resources in the 4th quarter valued at $231,000. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of Franklin Resources by 29.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 128,143 shares of the closed-end fund’s stock worth $2,600,000 after buying an additional 29,472 shares during the last quarter. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Company Profile

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.