Brokerages Set Franklin Resources, Inc. (NYSE:BEN) Price Target at $27.05

Franklin Resources, Inc. (NYSE:BEN) has received a consensus recommendation of “Reduce” from the nine research firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $27.05.

Several brokerages have recently issued reports on BEN. Morgan Stanley lifted their target price on shares of Franklin Resources from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Friday, January 19th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Franklin Resources from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Tuesday, January 30th. Wells Fargo & Company upgraded shares of Franklin Resources from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $24.00 to $30.00 in a report on Monday, January 8th. TD Cowen began coverage on shares of Franklin Resources in a report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 target price on the stock. Finally, StockNews.com lowered shares of Franklin Resources from a “buy” rating to a “hold” rating in a report on Thursday, February 1st.

Institutional Investors Weigh In On Franklin Resources

Several large investors have recently added to or reduced their stakes in the business. Cooper Financial Group increased its stake in Franklin Resources by 2.6% during the 4th quarter. Cooper Financial Group now owns 14,682 shares of the closed-end fund’s stock worth $437,000 after buying an additional 371 shares during the period. Verity Asset Management Inc. increased its position in shares of Franklin Resources by 3.2% in the 4th quarter. Verity Asset Management Inc. now owns 13,129 shares of the closed-end fund’s stock valued at $391,000 after purchasing an additional 411 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Franklin Resources by 4.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,622 shares of the closed-end fund’s stock valued at $287,000 after purchasing an additional 446 shares during the last quarter. Whitener Capital Management Inc. increased its position in shares of Franklin Resources by 2.4% in the 3rd quarter. Whitener Capital Management Inc. now owns 19,974 shares of the closed-end fund’s stock valued at $491,000 after purchasing an additional 460 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of Franklin Resources by 2.0% in the 3rd quarter. Park Avenue Securities LLC now owns 25,350 shares of the closed-end fund’s stock valued at $623,000 after purchasing an additional 485 shares during the last quarter. 47.56% of the stock is owned by hedge funds and other institutional investors.

Franklin Resources Stock Up 1.8 %

BEN opened at $28.12 on Tuesday. Franklin Resources has a fifty-two week low of $21.88 and a fifty-two week high of $30.32. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.92 and a current ratio of 1.92. The company has a fifty day moving average of $27.29 and a two-hundred day moving average of $26.15. The stock has a market capitalization of $14.81 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.45 and a beta of 1.40.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Monday, January 29th. The closed-end fund reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Franklin Resources had a net margin of 12.30% and a return on equity of 11.15%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, research analysts expect that Franklin Resources will post 2.51 earnings per share for the current year.

Franklin Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Thursday, March 28th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 4.41%. The ex-dividend date is Wednesday, March 27th. Franklin Resources’s payout ratio is currently 65.26%.

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.