Franklin Resources, Inc. (NYSE:BEN) Given Consensus Rating of “Reduce” by Brokerages

Shares of Franklin Resources, Inc. (NYSE:BEN) have earned a consensus rating of “Reduce” from the thirteen brokerages that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $20.25.

BEN has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on Franklin Resources from $20.00 to $21.50 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Evercore ISI lowered their price objective on Franklin Resources from $19.00 to $17.00 and set an “underperform” rating on the stock in a research note on Friday, April 11th. Cowen restated a “buy” rating on shares of Franklin Resources in a research note on Monday, June 16th. Morgan Stanley lowered their price objective on Franklin Resources from $18.00 to $15.00 and set an “underweight” rating on the stock in a research note on Monday, April 7th. Finally, Barclays lifted their price target on Franklin Resources from $17.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday, May 5th.

Institutional Investors Weigh In On Franklin Resources

Several hedge funds have recently modified their holdings of the company. Xponance Inc. boosted its holdings in shares of Franklin Resources by 1.2% during the 4th quarter. Xponance Inc. now owns 43,687 shares of the closed-end fund’s stock valued at $886,000 after acquiring an additional 497 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Franklin Resources by 44.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock valued at $33,000 after acquiring an additional 505 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Franklin Resources by 6.2% during the 4th quarter. Bessemer Group Inc. now owns 8,789 shares of the closed-end fund’s stock valued at $177,000 after acquiring an additional 510 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in shares of Franklin Resources by 49.9% during the 1st quarter. Manchester Capital Management LLC now owns 1,668 shares of the closed-end fund’s stock valued at $32,000 after acquiring an additional 555 shares in the last quarter. Finally, Hardy Reed LLC boosted its holdings in shares of Franklin Resources by 3.7% during the 4th quarter. Hardy Reed LLC now owns 16,721 shares of the closed-end fund’s stock valued at $339,000 after acquiring an additional 591 shares in the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Price Performance

Shares of NYSE BEN opened at $22.91 on Thursday. The business’s 50 day moving average is $20.84 and its 200-day moving average is $20.28. Franklin Resources has a 1-year low of $16.25 and a 1-year high of $24.37. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.93. The firm has a market cap of $12.04 billion, a P/E ratio of 33.69, a price-to-earnings-growth ratio of 3.07 and a beta of 1.43.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, May 2nd. The closed-end fund reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Franklin Resources had a return on equity of 9.13% and a net margin of 4.65%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the company earned $0.56 EPS. The company’s revenue was down 6.2% on a year-over-year basis. Equities research analysts predict that Franklin Resources will post 2.16 earnings per share for the current year.

Franklin Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 5.59%. The ex-dividend date is Friday, June 27th. Franklin Resources’s dividend payout ratio (DPR) is 188.24%.

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.