Shares of Franklin Resources, Inc. (NYSE:BEN) have earned an average rating of “Hold” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $44.55.
Several analysts have recently weighed in on BEN shares. Barclays PLC started coverage on shares of Franklin Resources in a report on Friday, September 8th. They set an “underweight” rating and a $40.00 price objective for the company. BidaskClub raised shares of Franklin Resources from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Zacks Investment Research lowered shares of Franklin Resources from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Wells Fargo & Company lowered shares of Franklin Resources from an “outperform” rating to a “market perform” rating and set a $50.00 price objective for the company. in a report on Monday, July 24th. Finally, Deutsche Bank AG raised their price objective on shares of Franklin Resources from $41.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, July 4th.
Shares of Franklin Resources (NYSE BEN) traded down 2.43% during trading on Friday, hitting $42.88. The stock had a trading volume of 2,490,908 shares. Franklin Resources has a one year low of $33.02 and a one year high of $47.65. The stock’s 50-day moving average price is $43.72 and its 200 day moving average price is $43.52. The stock has a market cap of $23.91 billion, a price-to-earnings ratio of 13.95 and a beta of 1.72.
Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.04. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.64 billion. Franklin Resources had a net margin of 27.30% and a return on equity of 13.96%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the business posted $0.82 earnings per share. On average, equities analysts forecast that Franklin Resources will post $2.92 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.87%. Franklin Resources’s payout ratio is presently 26.14%.
COPYRIGHT VIOLATION NOTICE: “Brokerages Set Franklin Resources, Inc. (BEN) Target Price at $44.36” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/11/12/brokerages-set-franklin-resources-inc-ben-target-price-at-44-36.html.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Franklin Resources by 1.2% in the second quarter. Vanguard Group Inc. now owns 27,248,491 shares of the closed-end fund’s stock valued at $1,220,459,000 after acquiring an additional 318,449 shares during the last quarter. BlackRock Inc. boosted its stake in Franklin Resources by 1.2% in the second quarter. BlackRock Inc. now owns 21,369,185 shares of the closed-end fund’s stock valued at $957,127,000 after acquiring an additional 249,766 shares during the last quarter. Pzena Investment Management LLC boosted its stake in Franklin Resources by 2.4% in the second quarter. Pzena Investment Management LLC now owns 10,348,419 shares of the closed-end fund’s stock valued at $463,506,000 after acquiring an additional 246,306 shares during the last quarter. Kiltearn Partners LLP boosted its stake in Franklin Resources by 0.8% in the second quarter. Kiltearn Partners LLP now owns 6,118,700 shares of the closed-end fund’s stock valued at $274,057,000 after acquiring an additional 50,100 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its stake in Franklin Resources by 3.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 3,919,555 shares of the closed-end fund’s stock valued at $174,459,000 after acquiring an additional 138,472 shares during the last quarter. 44.98% of the stock is currently owned by hedge funds and other institutional investors.
Franklin Resources Company Profile
Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.
Receive News & Ratings for Franklin Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.