Franklin Resources, Inc. (NYSE:BEN) has been assigned a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $42.50.

Several brokerages have recently weighed in on BEN. Zacks Investment Research downgraded Franklin Resources from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Wells Fargo & Company cut Franklin Resources from an “outperform” rating to a “market perform” rating and set a $50.00 price target for the company. in a research report on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and set a $44.00 price target on shares of Franklin Resources in a research report on Friday, July 14th. Morgan Stanley reiterated an “underweight” rating and set a $40.00 price target (up from $39.00) on shares of Franklin Resources in a research report on Monday, July 10th. Finally, BidaskClub upgraded Franklin Resources from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th.

ILLEGAL ACTIVITY NOTICE: “Franklin Resources, Inc. (BEN) Given Consensus Rating of “Hold” by Analysts” was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this news story on another site, it was illegally copied and republished in violation of international copyright law. The legal version of this news story can be viewed at https://www.dailypolitical.com/2017/08/08/franklin-resources-inc-ben-given-consensus-rating-of-hold-by-analysts.html.

In other Franklin Resources news, CFO Kenneth A. Lewis sold 17,141 shares of the company’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $44.51, for a total value of $762,945.91. Following the completion of the sale, the chief financial officer now directly owns 124,021 shares in the company, valued at approximately $5,520,174.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 21.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Alpha Windward LLC increased its stake in Franklin Resources by 1.0% in the first quarter. Alpha Windward LLC now owns 5,921 shares of the closed-end fund’s stock worth $250,000 after buying an additional 57 shares in the last quarter. Conning Inc. increased its stake in Franklin Resources by 0.9% in the second quarter. Conning Inc. now owns 8,696 shares of the closed-end fund’s stock worth $389,000 after buying an additional 80 shares in the last quarter. Creative Planning increased its stake in Franklin Resources by 1.8% in the first quarter. Creative Planning now owns 5,664 shares of the closed-end fund’s stock worth $239,000 after buying an additional 98 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Franklin Resources by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 40,840 shares of the closed-end fund’s stock worth $1,721,000 after buying an additional 104 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. increased its stake in Franklin Resources by 0.9% in the first quarter. Nicholas Hoffman & Company LLC. now owns 13,835 shares of the closed-end fund’s stock worth $583,000 after buying an additional 130 shares in the last quarter. Institutional investors own 45.80% of the company’s stock.

Shares of Franklin Resources (BEN) traded up 0.14% during midday trading on Tuesday, reaching $43.65. 2,163,977 shares of the company’s stock were exchanged. The company’s 50-day moving average is $45.27 and its 200-day moving average is $42.82. The stock has a market cap of $24.34 billion, a P/E ratio of 14.20 and a beta of 1.73. Franklin Resources has a one year low of $33.02 and a one year high of $47.65.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, July 28th. The closed-end fund reported $0.73 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. Franklin Resources had a return on equity of 13.96% and a net margin of 27.30%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 EPS. Equities analysts expect that Franklin Resources will post $2.95 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Wednesday, June 28th. Franklin Resources’s payout ratio is currently 26.14%.

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)

Receive News & Ratings for Franklin Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.