Brokerages Set Franklin Resources, Inc. (NYSE:BEN) Price Target at $27.50

Shares of Franklin Resources, Inc. (NYSE:BEN) have received an average recommendation of “Reduce” from the seven research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $27.50.

A number of research firms have recently weighed in on BEN. BMO Capital Markets increased their price target on Franklin Resources from $27.00 to $30.00 and gave the company a “market perform” rating in a research note on Tuesday, January 30th. Wells Fargo & Company raised Franklin Resources from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $24.00 to $30.00 in a research note on Monday, January 8th. StockNews.com downgraded Franklin Resources from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. TD Cowen started coverage on Franklin Resources in a research note on Thursday, January 4th. They issued a “market perform” rating and a $32.00 price target on the stock. Finally, UBS Group raised their price objective on Franklin Resources from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th.

Franklin Resources Stock Up 0.1 %

Shares of BEN opened at $25.35 on Friday. The firm has a market capitalization of $13.35 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.34 and a beta of 1.40. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.92 and a current ratio of 1.92. The business’s fifty day moving average price is $26.96 and its two-hundred day moving average price is $26.33. Franklin Resources has a 52 week low of $21.88 and a 52 week high of $30.32.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Monday, January 29th. The closed-end fund reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.51 billion. Franklin Resources had a return on equity of 11.15% and a net margin of 12.30%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. On average, analysts predict that Franklin Resources will post 2.52 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 12th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Wednesday, March 27th. Franklin Resources’s dividend payout ratio (DPR) is presently 65.26%.

Hedge Funds Weigh In On Franklin Resources

A number of large investors have recently added to or reduced their stakes in BEN. Geneos Wealth Management Inc. increased its holdings in Franklin Resources by 67.1% during the 3rd quarter. Geneos Wealth Management Inc. now owns 5,636 shares of the closed-end fund’s stock worth $139,000 after purchasing an additional 2,263 shares in the last quarter. Kentucky Retirement Systems bought a new position in shares of Franklin Resources in the 3rd quarter valued at about $563,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Franklin Resources in the 3rd quarter valued at about $251,000. IFP Advisors Inc grew its holdings in shares of Franklin Resources by 8.1% in the 3rd quarter. IFP Advisors Inc now owns 14,464 shares of the closed-end fund’s stock valued at $356,000 after acquiring an additional 1,088 shares in the last quarter. Finally, DnB Asset Management AS grew its holdings in shares of Franklin Resources by 30.9% in the 3rd quarter. DnB Asset Management AS now owns 89,602 shares of the closed-end fund’s stock valued at $2,202,000 after acquiring an additional 21,141 shares in the last quarter. Institutional investors 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.