Franklin Resources, Inc. (NYSE:BEN) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Franklin Resources received a consensus “Hold” rating from 10 analysts: six Holds, three Buys and one Sell. The average 12-month price target is $35.38, modestly above the $32.46 opening price.
• The company beat quarterly earnings expectations, reporting $0.72 in EPS versus $0.66 forecast and $2.36 billion in revenue, up 14.3% year over year.
• Franklin Resources declared a quarterly dividend of $0.33, equivalent to $1.32 annually and a 4.1% yield; its dividend payout ratio stands at 89.8%.

Shares of Franklin Resources, Inc. (NYSE:BEN - Get Free Report) have been assigned a consensus recommendation of "Hold" from the ten ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $35.38.

A number of equities research analysts have issued reports on BEN shares. Morgan Stanley upped their price target on shares of Franklin Resources from $34.00 to $35.00 and gave the company an "equal weight" rating in a report on Friday, September 25th. Zacks Research lowered Franklin Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Wall Street Zen raised Franklin Resources from a "hold" rating to a "buy" rating in a research report on Sunday, September 27th. TD Cowen increased their target price on Franklin Resources from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Finally, Keefe, Bruyette & Woods initiated coverage on Franklin Resources in a research report on Wednesday, September 9th. They issued a "hold" rating and a $38.00 price target on the stock.

Franklin Resources Stock Down 1.3%

Shares of BEN stock opened at $32.46 on Wednesday. The company has a market capitalization of $16.49 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 0.59 and a beta of 1.54. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.48 and a current ratio of 1.48. The stock's 50 day simple moving average is $33.69 and its 200 day simple moving average is $31.31. Franklin Resources has a twelve month low of $21.10 and a twelve month high of $36.28.

Franklin Resources (NYSE:BEN - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.06. Franklin Resources had a net margin of 8.72% and a return on equity of 11.55%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm posted $0.49 earnings per share. The company's quarterly revenue was up 14.3% compared to the same quarter last year. As a group, research analysts predict that Franklin Resources will post 2.9 EPS for the current year.

Franklin Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. Franklin Resources's dividend payout ratio (DPR) is presently 89.80%.

Hedge Funds Weigh In On Franklin Resources

A number of institutional investors and hedge funds have recently bought and sold shares of BEN. Y Intercept Hong Kong Ltd bought a new position in Franklin Resources during the first quarter valued at about $6,254,000. Cibc World Market Inc. acquired a new position in Franklin Resources in the 2nd quarter valued at approximately $4,418,000. Deutsche Bank AG bought a new stake in shares of Franklin Resources in the 2nd quarter worth approximately $37,742,000. Man Group plc bought a new stake in shares of Franklin Resources in the 2nd quarter worth approximately $2,429,000. Finally, Kinloch Capital LLC acquired a new stake in shares of Franklin Resources during the 2nd quarter worth approximately $5,737,000. Institutional investors own 47.56% of the company's stock.

About Franklin Resources

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.

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