Franklin Resources, Inc. (BEN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Franklin Resources, Inc. (NYSE:BEN) have earned an average rating of “Hold” from the twelve research firms that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $32.80.

BEN has been the subject of several research reports. Deutsche Bank upped their target price on Franklin Resources from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, September 27th. JPMorgan Chase & Co. downgraded Franklin Resources from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $32.00 to $29.00 in a research report on Thursday, September 6th. Morgan Stanley lowered their price objective on Franklin Resources from $33.00 to $32.00 and set an “underweight” rating for the company in a research report on Thursday, July 12th. Zacks Investment Research downgraded Franklin Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 23rd. Finally, UBS Group lowered their price objective on Franklin Resources from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, October 8th.

BEN traded up $0.12 during midday trading on Thursday, hitting $31.64. The stock had a trading volume of 2,280,243 shares, compared to its average volume of 3,492,586. The firm has a market cap of $16.46 billion, a P/E ratio of 9.92, a P/E/G ratio of 1.06 and a beta of 1.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.37 and a quick ratio of 3.37. Franklin Resources has a 1 year low of $28.12 and a 1 year high of $45.96.

Franklin Resources (NYSE:BEN) last issued its earnings results on Thursday, October 25th. The closed-end fund reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.39. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. Franklin Resources had a return on equity of 16.00% and a net margin of 12.10%. On average, equities analysts anticipate that Franklin Resources will post 2.94 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were given a $0.23 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.92 annualized dividend and a yield of 2.91%. Franklin Resources’s payout ratio is currently 28.84%.

In other Franklin Resources news, EVP Craig Steven Tyle sold 11,165 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $31.35, for a total value of $350,022.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jed A. Plafker sold 4,820 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $32.85, for a total value of $158,337.00. Following the transaction, the insider now owns 56,369 shares of the company’s stock, valued at approximately $1,851,721.65. The disclosure for this sale can be found here. Insiders own 22.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Pinebridge Investments L.P. bought a new position in shares of Franklin Resources during the second quarter valued at approximately $471,000. Royal London Asset Management Ltd. bought a new position in shares of Franklin Resources during the second quarter valued at approximately $4,272,000. Insight 2811 Inc. raised its holdings in shares of Franklin Resources by 63.4% during the second quarter. Insight 2811 Inc. now owns 26,554 shares of the closed-end fund’s stock valued at $851,000 after acquiring an additional 10,300 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Franklin Resources by 24.5% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,808 shares of the closed-end fund’s stock valued at $571,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Franklin Resources by 115.2% during the second quarter. Teacher Retirement System of Texas now owns 158,400 shares of the closed-end fund’s stock valued at $5,077,000 after acquiring an additional 84,790 shares in the last quarter. Institutional investors own 46.57% 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.

Featured Article: What does cost of debt say about a company’s financial health?

Analyst Recommendations for Franklin Resources (NYSE:BEN)

Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply