Brokerages Set Franklin Resources, Inc. (NYSE:BEN) Price Target at $25.90

Franklin Resources, Inc. (NYSE:BEN) has been assigned a consensus rating of “Hold” from the thirteen analysts that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $25.90.

A number of brokerages have recently commented on BEN. BMO Capital Markets upgraded shares of Franklin Resources from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $22.00 to $36.00 in a report on Monday, March 29th. Credit Suisse Group upped their price target on Franklin Resources from $26.00 to $27.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 5th. Morgan Stanley upped their target price on Franklin Resources from $24.00 to $26.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Franklin Resources from $29.00 to $33.00 and gave the stock a “hold” rating in a research report on Wednesday, May 5th.

In other Franklin Resources news, EVP Jed A. Plafker sold 20,782 shares of the company’s stock in a transaction that occurred on Wednesday, March 24th. The stock was sold at an average price of $28.67, for a total transaction of $595,819.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Gwen L. Shaneyfelt sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 18th. The stock was sold at an average price of $30.32, for a total value of $151,600.00. Following the sale, the chief accounting officer now directly owns 68,749 shares of the company’s stock, valued at approximately $2,084,469.68. The disclosure for this sale can be found here. Insiders have sold 30,782 shares of company stock valued at $913,670 in the last ninety days. Company insiders own 23.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of BEN. Morgan Stanley increased its holdings in shares of Franklin Resources by 106.7% during the 4th quarter. Morgan Stanley now owns 2,344,776 shares of the closed-end fund’s stock worth $58,595,000 after purchasing an additional 1,210,658 shares during the period. Norges Bank bought a new position in shares of Franklin Resources during the 4th quarter worth about $25,852,000. Schroder Investment Management Group increased its holdings in shares of Franklin Resources by 270.7% during the 4th quarter. Schroder Investment Management Group now owns 1,248,935 shares of the closed-end fund’s stock worth $31,211,000 after purchasing an additional 912,041 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Franklin Resources by 109.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,336,672 shares of the closed-end fund’s stock worth $33,404,000 after purchasing an additional 699,911 shares during the period. Finally, Factorial Partners LLC increased its holdings in shares of Franklin Resources by 2,478.8% during the 1st quarter. Factorial Partners LLC now owns 680,800 shares of the closed-end fund’s stock worth $23,000,000 after purchasing an additional 654,400 shares during the period. 44.71% of the stock is owned by institutional investors.

BEN stock opened at $34.44 on Tuesday. Franklin Resources has a 52 week low of $17.97 and a 52 week high of $35.94. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $17.37 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.77 and a beta of 1.24. The business’s 50-day moving average is $32.32.

Franklin Resources (NYSE:BEN) last posted its earnings results on Tuesday, May 4th. The closed-end fund reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. Franklin Resources had a net margin of 15.74% and a return on equity of 12.57%. The firm’s revenue for the quarter was up 58.4% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. As a group, analysts predict that Franklin Resources will post 3.17 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Wednesday, June 30th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $1.12 dividend on an annualized basis and a yield of 3.25%. Franklin Resources’s dividend payout ratio is currently 42.91%.

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.

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Analyst Recommendations for Franklin Resources (NYSE:BEN)

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