Franklin Resources Inc. (NYSE:BEN) – Research analysts at Jefferies Group boosted their Q4 2016 earnings per share estimates for shares of Franklin Resources in a research note issued to investors on Tuesday. Jefferies Group analyst D. Fannon now anticipates that the brokerage will earn $0.67 per share for the quarter, up from their previous estimate of $0.66. Jefferies Group has a “Hold” rating and a $36.00 price target on the stock. Jefferies Group also issued estimates for Franklin Resources’ FY2017 earnings at $2.81 EPS.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Thursday, July 28th. The closed-end fund reported $0.77 EPS for the quarter, beating the consensus estimate of $0.67 by $0.10. Franklin Resources had a net margin of 23.44% and a return on equity of 12.98%. The business earned $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the business posted $0.82 EPS. The company’s quarterly revenue was down 18.3% compared to the same quarter last year.

Earnings History and Estimates for Franklin Resources (NYSE:BEN)

A number of other analysts have also recently weighed in on the stock. Barclays PLC reissued an “underweight” rating on shares of Franklin Resources in a report on Thursday, August 25th. Keefe, Bruyette & Woods raised their price objective on shares of Franklin Resources from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, July 29th. Deutsche Bank AG raised their price objective on shares of Franklin Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, October 5th. Zacks Investment Research cut shares of Franklin Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Finally, Citigroup Inc. cut their price objective on shares of Franklin Resources from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, September 20th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $37.88.

Shares of Franklin Resources (NYSE:BEN) opened at 34.40 on Thursday. The company has a market cap of $19.82 billion, a price-to-earnings ratio of 12.73 and a beta of 1.66. The stock has a 50 day moving average of $35.68 and a 200 day moving average of $35.93. Franklin Resources has a 12-month low of $30.56 and a 12-month high of $42.23.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Wednesday, September 28th. Franklin Resources’s dividend payout ratio (DPR) is currently 26.57%.

In other news, EVP Craig Steven Tyle sold 5,000 shares of Franklin Resources stock in a transaction that occurred on 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 document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer M. Johnson sold 15,892 shares of Franklin Resources stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $35.99, for a total value of $571,953.08. Following the sale, the insider now directly owns 1,473,782 shares in the company, valued at approximately $53,041,414.18. The disclosure for this sale can be found here. 20.41% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in BEN. Bingham Osborn & Scarborough LLC raised its stake 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 during the last quarter. Sii Investments Inc. WI raised its stake 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 during the last quarter. Essex Financial Services Inc. raised its stake 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 during the last quarter. Nuveen Asset Management LLC raised its stake 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 during the last quarter. Finally, FTB Advisors Inc. raised its stake 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 during the last quarter. 48.39% of the stock is currently owned by institutional investors.

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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