Brokerages Set Franklin Resources, Inc. (BEN) Price Target at $43.90

Franklin Resources, Inc. (NYSE:BEN) has earned an average recommendation of “Hold” from the fifteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $43.90.

BEN has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $46.00 price objective on shares of Franklin Resources in a research note on Wednesday, November 1st. ValuEngine upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Citigroup dropped their price objective on shares of Franklin Resources from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Finally, UBS increased their price objective on shares of Franklin Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, October 27th.

In related news, Chairman Gregory E. Johnson sold 56,825 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $42.83, for a total transaction of $2,433,814.75. Following the completion of the transaction, the chairman now owns 2,047,273 shares of the company’s stock, valued at $87,684,702.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $42.95, for a total transaction of $17,180,000.00. The disclosure for this sale can be found here. Insiders own 21.60% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC increased its holdings in Franklin Resources by 9.4% in the third quarter. Parametric Portfolio Associates LLC now owns 1,100,764 shares of the closed-end fund’s stock valued at $48,995,000 after buying an additional 94,508 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Franklin Resources by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 243,379 shares of the closed-end fund’s stock valued at $10,833,000 after buying an additional 1,816 shares in the last quarter. Smith Shellnut Wilson LLC ADV purchased a new position in Franklin Resources in the third quarter valued at $250,000. Sterling Capital Management LLC increased its holdings in Franklin Resources by 5.6% in the third quarter. Sterling Capital Management LLC now owns 86,900 shares of the closed-end fund’s stock valued at $3,868,000 after buying an additional 4,600 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in Franklin Resources by 17.2% in the third quarter. Neuberger Berman Group LLC now owns 15,952 shares of the closed-end fund’s stock valued at $710,000 after buying an additional 2,345 shares in the last quarter. 44.77% of the stock is owned by hedge funds and other institutional investors.

Shares of Franklin Resources (BEN) traded down $0.62 during trading hours on Monday, hitting $43.07. 2,254,349 shares of the stock were exchanged, compared to its average volume of 2,244,544. The stock has a market capitalization of $23,860.00, a price-to-earnings ratio of 14.72, a PEG ratio of 2.42 and a beta of 1.75. Franklin Resources has a fifty-two week low of $38.93 and a fifty-two week high of $47.65. The company has a current ratio of 8.75, a quick ratio of 8.75 and a debt-to-equity ratio of 0.08.

Franklin Resources (NYSE:BEN) last issued its earnings results on Thursday, October 26th. The closed-end fund reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.04. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.64 billion. Franklin Resources had a net margin of 26.54% and a return on equity of 13.48%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $0.82 earnings per share. sell-side analysts expect that Franklin Resources will post 2.92 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Tuesday, December 26th will be paid a dividend of $0.23 per share. This is an increase from Franklin Resources’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, December 22nd. Franklin Resources’s payout ratio is presently 26.58%.

TRADEMARK VIOLATION WARNING: This piece was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this piece can be read at https://www.dispatchtribunal.com/2017/12/14/brokerages-set-franklin-resources-inc-ben-price-target-at-43-90.html.

About Franklin Resources

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.

Analyst Recommendations for Franklin Resources (NYSE:BEN)

Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply