Franklin Resources, Inc. (NYSE:BEN) has been assigned a consensus recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $31.02.

BEN has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded Franklin Resources from an “underweight” rating to a “neutral” rating and set a $32.00 target price on the stock in a report on Thursday, September 12th. ValuEngine lowered Franklin Resources from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. TheStreet lowered Franklin Resources from a “b-” rating to a “c+” rating in a report on Friday, August 9th. Citigroup lifted their target price on Franklin Resources from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Finally, Barclays set a $27.00 target price on Franklin Resources and gave the stock a “sell” rating in a report on Wednesday, July 31st.

BEN stock traded down $0.22 during midday trading on Friday, hitting $29.34. 2,572,532 shares of the company’s stock were exchanged, compared to its average volume of 2,937,757. The stock’s fifty day moving average price is $28.16 and its 200-day moving average price is $32.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.35 and a current ratio of 3.35. The company has a market cap of $14.89 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22. Franklin Resources has a one year low of $25.57 and a one year high of $35.82.

Franklin Resources (NYSE:BEN) last posted its earnings results on Tuesday, July 30th. The closed-end fund reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.15). The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Franklin Resources had a return on equity of 13.43% and a net margin of 23.80%. The business’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. On average, analysts expect that Franklin Resources will post 2.58 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Friday, September 27th. Franklin Resources’s dividend payout ratio is 32.60%.

In other Franklin Resources news, EVP Craig Steven Tyle sold 5,000 shares of Franklin Resources stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $26.01, for a total value of $130,050.00. Following the sale, the executive vice president now owns 100,009 shares of the company’s stock, valued at approximately $2,601,234.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 22.20% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in shares of Franklin Resources by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 4,151,160 shares of the closed-end fund’s stock valued at $122,917,000 after acquiring an additional 122,024 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Franklin Resources by 6.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,277 shares of the closed-end fund’s stock valued at $573,000 after acquiring an additional 1,042 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Franklin Resources by 15.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,093 shares of the closed-end fund’s stock valued at $467,000 after acquiring an additional 1,898 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Franklin Resources by 11.9% in the first quarter. Great West Life Assurance Co. Can now owns 351,348 shares of the closed-end fund’s stock valued at $11,618,000 after acquiring an additional 37,443 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Franklin Resources by 1.9% in the first quarter. First Trust Advisors LP now owns 1,173,178 shares of the closed-end fund’s stock valued at $38,879,000 after acquiring an additional 21,834 shares during the last quarter. 50.47% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Resources Company Profile

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.

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Analyst Recommendations for Franklin Resources (NYSE:BEN)

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