Franklin Resources, Inc. (NYSE:BEN) Stock Now Rated “Hold” by Sell-Side Brokerages

Franklin Resources, Inc. (NYSE:BEN) has been given an average rating of “Hold” by the eleven research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $36.11.

BEN has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $34.00 price objective on shares of Franklin Resources in a research report on Monday, August 3rd. Morgan Stanley lifted their target price on Franklin Resources from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, September 25th. Keefe, Bruyette & Woods began coverage on Franklin Resources in a report on Wednesday, September 9th. They issued a “hold” rating and a $38.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Franklin Resources from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Franklin Resources in a research report on Monday, August 31st.

Hedge Funds Weigh In On Franklin Resources

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Franklin Resources in the second quarter worth approximately $961,845,000. Azora Capital LP purchased a new position in Franklin Resources during the 2nd quarter valued at $229,850,000. Bank of New York Mellon Corp bought a new position in Franklin Resources in the 2nd quarter valued at $152,692,000. Squarepoint Ops LLC grew its position in Franklin Resources by 188.2% in the 4th quarter. Squarepoint Ops LLC now owns 4,131,559 shares of the closed-end fund’s stock valued at $98,703,000 after acquiring an additional 2,697,743 shares during the last quarter. Finally, Kopernik Global Investors LLC increased its stake in Franklin Resources by 4.6% in the first quarter. Kopernik Global Investors LLC now owns 3,522,587 shares of the closed-end fund’s stock worth $83,204,000 after purchasing an additional 153,422 shares during the period. 47.56% of the stock is currently owned by institutional investors.

Franklin Resources Stock Performance

Shares of NYSE BEN opened at $31.20 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a fifty day moving average price of $33.47 and a 200-day moving average price of $31.60. The stock has a market cap of $15.85 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 0.56 and a beta of 1.54. Franklin Resources has a 1 year low of $21.10 and a 1 year high of $36.28.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Friday, July 31st. The closed-end fund reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $1.76 billion. Franklin Resources had a net margin of 8.72% and a return on equity of 11.55%. Franklin Resources’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS. Equities analysts anticipate that Franklin Resources will post 2.91 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Wednesday, September 30th. Franklin Resources’s dividend payout ratio (DPR) is 89.80%.

Franklin Resources Company Profile

Franklin Resources, Inc, operating under the Franklin Templeton brand, is a global investment management organization. The company provides investment solutions for individual investors, financial professionals, institutions and retirement-plan participants through a range of actively managed and specialized strategies.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investment strategies. Franklin Templeton offers capabilities spanning equities, fixed income, multi-asset investing, private markets and other specialized areas, with investment teams and brands serving different market segments and regions.

Founded in 1947 by Rupert H.