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

Shares of Franklin Resources, Inc. (NYSE:BEN) have been given an average rating of “Reduce” by the fourteen brokerages that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $24.0909.

BEN has been the subject of several analyst reports. Cowen reiterated a “buy” rating on shares of Franklin Resources in a research note on Wednesday. Barclays upped their target price on Franklin Resources from $20.00 to $22.00 and gave the company an “underweight” rating in a report on Friday, December 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Franklin Resources in a report on Monday, December 29th. Wall Street Zen downgraded Franklin Resources from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Finally, JPMorgan Chase & Co. decreased their target price on Franklin Resources from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, November 10th.

Franklin Resources Price Performance

Shares of NYSE:BEN opened at $25.66 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.95. The stock has a market cap of $13.38 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 1.35 and a beta of 1.44. The stock’s fifty day simple moving average is $23.26 and its two-hundred day simple moving average is $23.90. Franklin Resources has a 1-year low of $16.25 and a 1-year high of $26.08.

Franklin Resources (NYSE:BEN) last posted its earnings results on Friday, November 7th. The closed-end fund reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. Franklin Resources had a net margin of 5.98% and a return on equity of 9.12%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, analysts forecast that Franklin Resources will post 2.16 EPS for the current fiscal year.

Franklin Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Tuesday, December 30th were given a $0.33 dividend. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Tuesday, December 30th. Franklin Resources’s payout ratio is presently 145.05%.

Institutional Investors Weigh In On Franklin Resources

Large investors have recently modified their holdings of the stock. Capital A Wealth Management LLC raised its holdings in shares of Franklin Resources by 3,869.2% in the 2nd quarter. Capital A Wealth Management LLC now owns 1,032 shares of the closed-end fund’s stock worth $25,000 after purchasing an additional 1,006 shares during the period. Root Financial Partners LLC bought a new stake in shares of Franklin Resources in the third quarter valued at $25,000. Total Investment Management Inc. bought a new stake in shares of Franklin Resources in the second quarter valued at $27,000. EverSource Wealth Advisors LLC lifted its position in shares of Franklin Resources by 129.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,313 shares of the closed-end fund’s stock valued at $30,000 after buying an additional 740 shares during the last quarter. Finally, Consultiva Wealth Management CORP. grew its stake in shares of Franklin Resources by 177.1% during the 2nd quarter. Consultiva Wealth Management CORP. now owns 1,283 shares of the closed-end fund’s stock worth $31,000 after acquiring an additional 820 shares during the period. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Franklin Resources Company Profile

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.