BMO Capital Markets Trims Franklin Resources (NYSE:BEN) Target Price to $27.00

Franklin Resources (NYSE:BEN) had its price target decreased by BMO Capital Markets from $30.00 to $27.00 in a research report sent to investors on Tuesday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the closed-end fund’s stock.

Other equities analysts have also recently issued reports about the stock. UBS Group boosted their target price on shares of Franklin Resources from $26.00 to $30.00 and gave the company a neutral rating in a research report on Wednesday, January 10th. Evercore ISI reduced their target price on Franklin Resources from $29.00 to $26.00 and set an underperform rating on the stock in a report on Tuesday. Wells Fargo & Company upgraded Franklin Resources from an underweight rating to an equal weight rating and lifted their price target for the company from $24.00 to $30.00 in a research note on Monday, January 8th. Morgan Stanley upped their price objective on Franklin Resources from $24.00 to $25.00 and gave the stock an underweight rating in a research report on Wednesday, April 17th. Finally, TD Cowen started coverage on Franklin Resources in a research note on Thursday, January 4th. They set a market perform rating and a $32.00 target price for the company. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, Franklin Resources currently has a consensus rating of Hold and a consensus price target of $26.00.

Franklin Resources Trading Up 0.9 %

Shares of NYSE:BEN opened at $22.97 on Tuesday. The business’s 50 day simple moving average is $26.54 and its 200 day simple moving average is $26.32. Franklin Resources has a 1 year low of $21.88 and a 1 year high of $30.32. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.82 and a quick ratio of 1.92. The company has a market capitalization of $12.08 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.46 and a beta of 1.44.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Monday, April 29th. The closed-end fund reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $1.66 billion. Franklin Resources had a return on equity of 10.82% and a net margin of 11.09%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. On average, research analysts anticipate that Franklin Resources will post 2.49 EPS for the current fiscal year.

Franklin Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a dividend of $0.31 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.24 annualized dividend and a dividend yield of 5.40%. Franklin Resources’s payout ratio is 70.86%.

Institutional Trading of Franklin Resources

Several large investors have recently modified their holdings of BEN. Peoples Bank KS bought a new position in Franklin Resources during the third quarter worth $25,000. Blue Trust Inc. increased its position in Franklin Resources by 240.5% in the 4th quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund’s stock valued at $26,000 after buying an additional 623 shares in the last quarter. Bell Investment Advisors Inc raised its stake in Franklin Resources by 975.5% during the 3rd quarter. Bell Investment Advisors Inc now owns 1,140 shares of the closed-end fund’s stock worth $28,000 after buying an additional 1,034 shares during the period. Creative Financial Designs Inc. ADV bought a new position in Franklin Resources in the fourth quarter worth approximately $31,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in Franklin Resources by 149.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,111 shares of the closed-end fund’s stock valued at $33,000 after acquiring an additional 665 shares during the period. Institutional investors and hedge funds 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.