Franklin Resources, Inc. (NYSE:BEN) Stock Has Consensus Target Price of $35.38 According to Analysts

Shares of Franklin Resources, Inc. (NYSE:BEN) have been given a consensus recommendation of “Hold” by the eleven brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $35.89.

BEN has been the topic of a number of recent research reports. Zacks Research cut shares of Franklin Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Wall Street Zen raised shares of Franklin Resources from a “hold” rating to a “buy” rating in a report on Sunday, September 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $34.00 price target on shares of Franklin Resources in a research note on Monday, August 3rd. Morgan Stanley upped their price objective on shares of Franklin Resources from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, September 25th. Finally, Barclays raised their target price on Franklin Resources from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd.

Franklin Resources Stock Performance

Shares of NYSE:BEN opened at $31.98 on Wednesday. The company has a market cap of $16.25 billion, a P/E ratio of 21.76, a PEG ratio of 0.57 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. Franklin Resources has a one year low of $21.10 and a one year high of $36.28. The business’s 50-day simple moving average is $33.63 and its 200 day simple moving average is $31.44.

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

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were issued 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 yield of 4.1%. Franklin Resources’s dividend payout ratio is currently 89.80%.

Institutional Investors Weigh In On Franklin Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Franklin Resources in the second quarter worth about $961,845,000. Azora Capital LP acquired a new stake in Franklin Resources during the second quarter valued at approximately $229,850,000. Bank of New York Mellon Corp acquired a new stake in Franklin Resources during the second quarter valued at approximately $152,692,000. Squarepoint Ops LLC lifted its holdings in Franklin Resources by 188.2% during the 4th quarter. Squarepoint Ops LLC now owns 4,131,559 shares of the closed-end fund’s stock worth $98,703,000 after buying an additional 2,697,743 shares during the last quarter. Finally, Gallagher Fiduciary Advisors LLC bought a new position in Franklin Resources during the 2nd quarter worth approximately $45,904,000. 47.56% of the stock is currently owned by hedge funds and other institutional investors.

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.