Franklin Resources, Inc. (NYSE:BEN) has been given a consensus recommendation of “Hold” by the thirteen research firms that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $36.18.

A number of equities analysts have commented on BEN shares. JPMorgan Chase & Co. lowered shares of Franklin Resources from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $32.00 to $29.00 in a report on Thursday, September 6th. Morgan Stanley dropped their target price on shares of Franklin Resources from $33.00 to $32.00 and set an “underweight” rating for the company in a research report on Thursday, July 12th. Zacks Investment Research downgraded shares of Franklin Resources from a “hold” rating to a “sell” rating in a research report on Tuesday. Barclays dropped their target price on shares of Franklin Resources from $32.00 to $30.00 and set an “underweight” rating for the company in a research report on Monday, July 30th. Finally, Deutsche Bank dropped their target price on shares of Franklin Resources from $33.00 to $32.00 and set a “hold” rating for the company in a research report on Thursday, August 16th.

In other news, EVP Craig Steven Tyle sold 11,165 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $31.35, for a total value of $350,022.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.20% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the stock. Sciencast Management LP grew its position in shares of Franklin Resources by 6.6% during the 1st quarter. Sciencast Management LP now owns 25,001 shares of the closed-end fund’s stock valued at $849,000 after buying an additional 1,538 shares during the last quarter. Wesbanco Bank Inc. grew its position in shares of Franklin Resources by 9.7% during the 1st quarter. Wesbanco Bank Inc. now owns 17,566 shares of the closed-end fund’s stock valued at $609,000 after buying an additional 1,554 shares during the last quarter. Dupont Capital Management Corp grew its position in shares of Franklin Resources by 61.2% during the 2nd quarter. Dupont Capital Management Corp now owns 4,168 shares of the closed-end fund’s stock valued at $134,000 after buying an additional 1,582 shares during the last quarter. World Asset Management Inc grew its position in shares of Franklin Resources by 6.7% during the 2nd quarter. World Asset Management Inc now owns 26,689 shares of the closed-end fund’s stock valued at $855,000 after buying an additional 1,672 shares during the last quarter. Finally, IFG Advisory LLC grew its position in shares of Franklin Resources by 9.8% during the 2nd quarter. IFG Advisory LLC now owns 18,830 shares of the closed-end fund’s stock valued at $603,000 after buying an additional 1,676 shares during the last quarter. 46.84% of the stock is owned by institutional investors and hedge funds.

Shares of BEN stock opened at $31.92 on Wednesday. Franklin Resources has a 12 month low of $29.95 and a 12 month high of $45.96. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $16.52 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 1.63 and a beta of 1.52.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, July 27th. The closed-end fund reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Franklin Resources had a net margin of 10.72% and a return on equity of 15.40%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the business posted $0.73 EPS. The firm’s revenue was down 3.4% compared to the same quarter last year. sell-side analysts forecast that Franklin Resources will post 3.14 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, September 28th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, September 27th. Franklin Resources’s payout ratio is currently 30.56%.

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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