Brokerages Set Franklin Resources, Inc. (NYSE:BEN) Target Price at $20.86

Shares of Franklin Resources, Inc. (NYSE:BEN) have received a consensus recommendation of “Reduce” from the eleven ratings firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $20.86.

Several analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Franklin Resources from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley upped their price target on shares of Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Friday, December 20th. StockNews.com raised Franklin Resources from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. TD Cowen dropped their price objective on shares of Franklin Resources from $20.00 to $18.50 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group upgraded Franklin Resources from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $21.00 to $22.00 in a research note on Monday, January 6th.

Institutional Trading of Franklin Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Franklin Resources in the 4th quarter valued at $53,676,000. Two Sigma Advisers LP raised its position in shares of Franklin Resources by 173.7% during the fourth quarter. Two Sigma Advisers LP now owns 3,531,700 shares of the closed-end fund’s stock worth $71,658,000 after acquiring an additional 2,241,500 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of Franklin Resources by 132.7% in the fourth quarter. Two Sigma Investments LP now owns 2,935,292 shares of the closed-end fund’s stock worth $59,557,000 after acquiring an additional 1,673,971 shares during the period. First Trust Advisors LP boosted its holdings in Franklin Resources by 33.1% in the fourth quarter. First Trust Advisors LP now owns 6,438,863 shares of the closed-end fund’s stock valued at $130,645,000 after acquiring an additional 1,599,849 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Franklin Resources by 19.6% during the 4th quarter. ProShare Advisors LLC now owns 9,403,875 shares of the closed-end fund’s stock valued at $190,805,000 after purchasing an additional 1,542,478 shares during the period. 47.56% of the stock is owned by institutional investors.

Franklin Resources Stock Up 1.8 %

Shares of NYSE:BEN opened at $20.90 on Friday. Franklin Resources has a 52 week low of $18.83 and a 52 week high of $28.61. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.63 and a current ratio of 1.66. The company has a market cap of $10.98 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 2.14 and a beta of 1.42. The firm has a 50 day simple moving average of $20.41 and a 200 day simple moving average of $20.76.

Franklin Resources (NYSE:BEN) last issued its earnings results on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. During the same period in the previous year, the firm earned $0.65 earnings per share. As a group, research analysts expect that Franklin Resources will post 2.16 earnings per share for the current year.

Franklin Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 6.13%. The ex-dividend date is Monday, March 31st. Franklin Resources’s payout ratio is presently 196.93%.

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.