Franklin Resources (NYSE:BEN) Price Target Raised to $36.00

Franklin Resources (NYSE:BEN) had its price objective hoisted by Barclays from $34.00 to $36.00 in a research report report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the closed-end fund’s stock.

A number of other analysts have also issued reports on the company. 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. UBS Group began coverage on Franklin Resources in a report on Wednesday, October 7th. They set a “buy” rating and a $40.00 price target on the stock. Wall Street Zen lowered Franklin Resources from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. JPMorgan Chase & Co. increased their price objective on Franklin Resources from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, October 12th. Finally, Zacks Research downgraded Franklin Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $36.78.

Franklin Resources Price Performance

NYSE BEN opened at $36.29 on Monday. Franklin Resources has a 1 year low of $21.10 and a 1 year high of $36.79. The stock’s 50-day moving average price is $32.71 and its two-hundred day moving average price is $30.54. The company has a current ratio of 1.58, a quick ratio of 1.48 and a debt-to-equity ratio of 1.31. The company has a market cap of $18.44 billion, a PE ratio of 18.33, a PEG ratio of 0.53 and a beta of 1.56.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, November 6th. The closed-end fund reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.17. Franklin Resources had a net margin of 11.42% and a return on equity of 12.54%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business posted $0.67 EPS. The company’s revenue was up 3.9% on a year-over-year basis. On average, analysts predict that Franklin Resources will post 3.26 EPS for the current year.

Franklin Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.6%. Franklin Resources’s dividend payout ratio is 66.67%.

Institutional Trading of Franklin Resources

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Franklin Resources in the second quarter valued at about $961,845,000. Azora Capital LP acquired a new position in Franklin Resources in the 2nd quarter worth about $229,850,000. Bank of New York Mellon Corp purchased a new stake in shares of Franklin Resources during the 2nd quarter worth about $152,692,000. Bahl & Gaynor LLC purchased a new stake in shares of Franklin Resources during the 3rd quarter worth about $49,527,000. Finally, Gallagher Fiduciary Advisors LLC purchased a new stake in shares of Franklin Resources during the 2nd quarter worth about $45,904,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Company Profile

Franklin Resources, Inc. is a global investment management company that operates under the Franklin Templeton name. It offers investment products and services to individual investors, financial professionals, institutions and other clients, including mutual funds, exchange-traded funds and separately managed accounts. The company invests across a range of asset classes and strategies, including equities, fixed income, multi-asset portfolios and alternative investments. Its services also include retirement solutions and wealth management.