Franklin Resources, Inc. (BEN) Given Consensus Rating of “Hold” by Analysts
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.
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.
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