Franklin Resources (NYSE:BEN) PT Lowered to $25.00

Franklin Resources (NYSE:BEN) had its price objective lowered by Deutsche Bank from $29.00 to $25.00 in a research report released on Thursday, AnalystRatings.com reports. The brokerage currently has a hold rating on the closed-end fund’s stock.

Other analysts also recently issued reports about the stock. BMO Capital Markets started coverage on shares of Franklin Resources in a report on Monday, October 7th. They set an underperform rating and a $16.00 price objective for the company. ValuEngine upgraded shares of Franklin Resources from a sell rating to a hold rating in a report on Friday, October 25th. Barclays reissued a sell rating and set a $24.00 target price on shares of Franklin Resources in a research report on Wednesday, October 9th. Morgan Stanley cut their target price on shares of Franklin Resources from $31.00 to $28.00 and set an underweight rating for the company in a research report on Tuesday, October 8th. Finally, Evercore ISI restated a sell rating and set a $25.00 price target on shares of Franklin Resources in a report on Wednesday, November 13th. Seven analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $28.58.

Shares of BEN stock opened at $25.80 on Thursday. The stock’s 50 day simple moving average is $27.30 and its 200 day simple moving average is $29.72. Franklin Resources has a twelve month low of $25.57 and a twelve month high of $35.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 2.96. The company has a market capitalization of $12.85 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.42 and a beta of 1.21.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, October 25th. The closed-end fund reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). Franklin Resources had a return on equity of 12.28% and a net margin of 20.71%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the company earned $0.96 EPS. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, analysts forecast that Franklin Resources will post 2.6 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $0.27 dividend. This is an increase from Franklin Resources’s previous quarterly dividend of $0.26. The ex-dividend date is Monday, December 30th. This represents a $1.08 annualized dividend and a dividend yield of 4.19%. Franklin Resources’s dividend payout ratio (DPR) is presently 41.27%.

In related news, EVP Craig Steven Tyle sold 5,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $27.57, for a total transaction of $137,850.00. Following the transaction, the executive vice president now owns 113,793 shares of the company’s stock, valued at $3,137,273.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 23.90% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Poehling Capital Management LLC grew its holdings in shares of Franklin Resources by 4.9% during the 2nd quarter. Poehling Capital Management LLC now owns 7,583 shares of the closed-end fund’s stock worth $264,000 after purchasing an additional 355 shares in the last quarter. First Midwest Bank Trust Division raised its stake in shares of Franklin Resources by 4.5% in the third quarter. First Midwest Bank Trust Division now owns 10,287 shares of the closed-end fund’s stock valued at $297,000 after purchasing an additional 441 shares in the last quarter. Angeles Investment Advisors LLC raised its stake in shares of Franklin Resources by 4.7% in the third quarter. Angeles Investment Advisors LLC now owns 10,362 shares of the closed-end fund’s stock valued at $299,000 after purchasing an additional 463 shares in the last quarter. Advisory Services Network LLC lifted its position in Franklin Resources by 232.6% in the second quarter. Advisory Services Network LLC now owns 725 shares of the closed-end fund’s stock worth $25,000 after purchasing an additional 507 shares during the period. Finally, Landmark Bank lifted its position in Franklin Resources by 1.1% in the third quarter. Landmark Bank now owns 48,540 shares of the closed-end fund’s stock worth $1,401,000 after purchasing an additional 543 shares during the period. 48.65% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Franklin Resources (NYSE:BEN)

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