Press coverage about Franklin Resources (NYSE:BEN) has trended somewhat positive recently, according to Accern Sentiment. The research firm identifies positive and negative media coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Franklin Resources earned a news sentiment score of 0.23 on Accern’s scale. Accern also gave headlines about the closed-end fund an impact score of 45.6808166539834 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
These are some of the headlines that may have impacted Accern Sentiment’s analysis:
Several equities analysts recently weighed in on the company. Zacks Investment Research upgraded Franklin Resources from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Thursday. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 price objective on shares of Franklin Resources in a research note on Thursday, October 12th. ValuEngine upgraded Franklin Resources from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Citigroup lowered their target price on Franklin Resources from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Finally, UBS Group boosted their target price on Franklin Resources from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Franklin Resources presently has an average rating of “Hold” and a consensus price target of $44.45.
Franklin Resources (NYSE BEN) traded up $0.59 during trading on Friday, hitting $44.53. The stock had a trading volume of 1,996,244 shares, compared to its average volume of 1,883,886. Franklin Resources has a 1-year low of $39.38 and a 1-year high of $47.65. The company has a quick ratio of 8.75, a current ratio of 8.75 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $24,294.94, a price-to-earnings ratio of 14.84, a P/E/G ratio of 1.53 and a beta of 1.75.
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 analysts’ consensus estimates 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 return on equity of 13.48% and a net margin of 26.54%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 earnings per share. equities research analysts expect that Franklin Resources will post 3.15 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Tuesday, December 26th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, December 22nd. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.20. Franklin Resources’s dividend payout ratio is 30.67%.
In related news, Chairman Gregory E. Johnson sold 56,825 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $42.83, for a total value of $2,433,814.75. Following the completion of the sale, the chairman now owns 2,047,273 shares in the company, valued at $87,684,702.59. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were 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 sold 514,603 shares of company stock valued at $22,134,429 in the last 90 days. 22.20% of the stock is currently owned by insiders.
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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.
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