Franklin Resources (NYSE:BEN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Franklin Resources (NYSE:BEN) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Several other brokerages have also commented on BEN. Weiss Ratings restated a “hold (c+)” rating on shares of Franklin Resources in a research note on Monday, December 29th. JPMorgan Chase & Co. dropped their target price on shares of Franklin Resources from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Barclays boosted their price target on shares of Franklin Resources from $22.00 to $25.00 and gave the company an “underweight” rating in a report on Thursday, January 15th. BMO Capital Markets started coverage on shares of Franklin Resources in a research report on Friday, October 3rd. They issued an “outperform” rating and a $26.00 price target for the company. Finally, Evercore ISI dropped their price objective on shares of Franklin Resources from $25.00 to $23.00 and set an “underperform” rating on the stock in a research note on Thursday, October 9th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Franklin Resources has a consensus rating of “Reduce” and an average price target of $25.78.

Franklin Resources Stock Up 1.7%

Shares of NYSE BEN opened at $27.08 on Friday. Franklin Resources has a 52-week low of $16.25 and a 52-week high of $27.20. The firm has a market capitalization of $14.12 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 1.28 and a beta of 1.44. The stock has a 50 day moving average price of $24.38 and a 200 day moving average price of $24.04. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.40 and a current ratio of 1.40.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, January 30th. The closed-end fund reported $0.70 EPS for the quarter, topping the consensus estimate of $0.55 by $0.15. Franklin Resources had a return on equity of 9.59% and a net margin of 6.97%.The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period last year, the business posted $0.59 EPS. Franklin Resources’s quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts expect that Franklin Resources will post 2.16 earnings per share for the current year.

Franklin Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Tuesday, December 30th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Tuesday, December 30th. This is an increase from Franklin Resources’s previous quarterly dividend of $0.32. Franklin Resources’s payout ratio is presently 122.22%.

Institutional Investors Weigh In On Franklin Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital A Wealth Management LLC grew its stake in Franklin Resources by 3,869.2% during the 2nd quarter. Capital A Wealth Management LLC now owns 1,032 shares of the closed-end fund’s stock valued at $25,000 after purchasing an additional 1,006 shares during the last quarter. Root Financial Partners LLC purchased a new position in Franklin Resources during the 3rd quarter worth approximately $25,000. Danske Bank A S acquired a new stake in Franklin Resources during the 4th quarter valued at approximately $26,000. Total Investment Management Inc. purchased a new stake in shares of Franklin Resources in the 2nd quarter valued at $27,000. Finally, Rakuten Securities Inc. increased its stake in shares of Franklin Resources by 277.0% in the fourth quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund’s stock worth $27,000 after acquiring an additional 845 shares during the period. Hedge funds and other institutional investors own 47.56% of the company’s stock.

About Franklin Resources

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.