Barclays PLC reiterated their sell rating on shares of Franklin Resources Inc. (NYSE:BEN) in a research report sent to investors on Tuesday morning. They currently have a $31.00 target price on the closed-end fund’s stock.

A number of other equities analysts have also recently weighed in on BEN. Citigroup Inc. decreased their price target on Franklin Resources from $40.00 to $39.00 and set a neutral rating for the company in a report on Tuesday, September 20th. Deutsche Bank AG upped their price target on Franklin Resources from $34.00 to $35.00 and gave the stock a hold rating in a report on Friday, September 9th. Jefferies Group restated a hold rating on shares of Franklin Resources in a report on Monday, August 1st. Zacks Investment Research cut Franklin Resources from a hold rating to a sell rating in a report on Tuesday, October 4th. Finally, Keefe, Bruyette & Woods upped their price target on Franklin Resources from $34.00 to $37.00 and gave the stock a market perform rating in a report on Friday, July 29th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a strong buy rating to the company’s stock. Franklin Resources presently has a consensus rating of Hold and a consensus target price of $37.88.

Franklin Resources (NYSE:BEN) opened at 34.78 on Tuesday. The company has a 50 day moving average of $35.79 and a 200 day moving average of $35.95. Franklin Resources has a 1-year low of $30.56 and a 1-year high of $42.23. The firm has a market capitalization of $20.04 billion, a PE ratio of 12.87 and a beta of 1.66.

Franklin Resources (NYSE:BEN) last issued its earnings results on Thursday, July 28th. The closed-end fund reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. Franklin Resources had a return on equity of 12.98% and a net margin of 23.44%. The business earned $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The company’s revenue for the quarter was down 18.3% on a year-over-year basis. Analysts forecast that Franklin Resources will post $2.80 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.72 annualized dividend and a yield of 2.07%. Franklin Resources’s dividend payout ratio is currently 26.57%.

In related news, EVP Craig Steven Tyle sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $36.18, for a total transaction of $180,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer M. Johnson sold 15,892 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $35.99, for a total value of $571,953.08. Following the transaction, the insider now directly owns 1,473,782 shares of the company’s stock, valued at approximately $53,041,414.18. The disclosure for this sale can be found here. Corporate insiders own 20.41% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bingham Osborn & Scarborough LLC boosted its position in shares of Franklin Resources by 0.6% in the second quarter. Bingham Osborn & Scarborough LLC now owns 7,935 shares of the closed-end fund’s stock valued at $265,000 after buying an additional 47 shares in the last quarter. Sii Investments Inc. WI boosted its position in shares of Franklin Resources by 0.4% in the second quarter. Sii Investments Inc. WI now owns 36,655 shares of the closed-end fund’s stock valued at $1,227,000 after buying an additional 130 shares in the last quarter. Essex Financial Services Inc. boosted its position in shares of Franklin Resources by 1.6% in the second quarter. Essex Financial Services Inc. now owns 8,759 shares of the closed-end fund’s stock valued at $292,000 after buying an additional 140 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Franklin Resources by 0.6% in the second quarter. Nuveen Asset Management LLC now owns 25,302 shares of the closed-end fund’s stock valued at $844,000 after buying an additional 148 shares in the last quarter. Finally, FTB Advisors Inc. boosted its position in shares of Franklin Resources by 8.4% in the second quarter. FTB Advisors Inc. now owns 3,208 shares of the closed-end fund’s stock valued at $107,000 after buying an additional 248 shares in the last quarter. 48.39% of the stock is owned by institutional investors and hedge funds.

Franklin Resources Company Profile

Franklin Resources, Inc (Franklin), is a holding company. Franklin together with its various subsidiaries (collectively, the Company), is referred to as Franklin Templeton Investments, is a global investment management organization offering investment management and related services under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names.

5 Day Chart for NYSE:BEN

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