Shares of Franklin Resources, Inc. (NYSE:BEN) have received a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $43.90.

BEN has been the topic of several research reports. Barclays initiated coverage on shares of Franklin Resources in a research report on Friday, September 8th. They issued an “underweight” rating and a $40.00 price objective on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $44.00 price target on shares of Franklin Resources in a research report on Sunday, September 3rd. Wells Fargo & Company cut their price target on shares of Franklin Resources from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, October 27th. Zacks Investment Research cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, UBS boosted their price target on shares of Franklin Resources from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th.

Franklin Resources (NYSE BEN) traded up $0.39 on Monday, reaching $43.46. 2,750,694 shares of the company traded hands, compared to its average volume of 2,195,408. The company has a market cap of $23,856.82, a PE ratio of 14.36, a P/E/G ratio of 2.36 and a beta of 1.75. Franklin Resources has a 1-year low of $38.93 and a 1-year high of $47.65. The company has a quick ratio of 8.75, a current ratio of 8.75 and a debt-to-equity ratio of 0.08.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Thursday, October 26th. The closed-end fund reported $0.76 EPS for the quarter, beating the consensus estimate of $0.72 by $0.04. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Franklin Resources had a net margin of 26.54% and a return on equity of 13.48%. The firm’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS. equities research analysts predict that Franklin Resources will post 2.92 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Tuesday, December 26th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, December 22nd. This is a boost from Franklin Resources’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a yield of 2.12%. Franklin Resources’s payout ratio is 26.67%.

In other news, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $42.95, for a total value of $17,180,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Gregory E. Johnson sold 56,825 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $42.83, for a total transaction of $2,433,814.75. Following the completion of the sale, the chairman now directly owns 2,047,273 shares in the company, valued at $87,684,702.59. The disclosure for this sale can be found here. Insiders own 21.60% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Conning Inc. raised its holdings in shares of Franklin Resources by 0.9% in the 2nd quarter. Conning Inc. now owns 8,696 shares of the closed-end fund’s stock valued at $389,000 after purchasing an additional 80 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Franklin Resources by 2.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,244 shares of the closed-end fund’s stock valued at $235,000 after purchasing an additional 116 shares during the period. NGAM Advisors L.P. raised its holdings in shares of Franklin Resources by 0.6% in the 2nd quarter. NGAM Advisors L.P. now owns 25,308 shares of the closed-end fund’s stock valued at $1,134,000 after purchasing an additional 148 shares during the period. Boston Family Office LLC raised its holdings in shares of Franklin Resources by 3.0% in the 2nd quarter. Boston Family Office LLC now owns 5,115 shares of the closed-end fund’s stock valued at $229,000 after purchasing an additional 150 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Franklin Resources by 2.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 10,400 shares of the closed-end fund’s stock valued at $466,000 after purchasing an additional 200 shares during the period. 44.77% of the stock is currently owned by institutional investors.

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Franklin Resources Company Profile

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

Analyst Recommendations for Franklin Resources (NYSE:BEN)

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