Analysts’ Recent Ratings Updates for Franklin Resources (BEN)

A number of research firms have changed their ratings and price targets for Franklin Resources (NYSE: BEN):

• 7/29/2024 – Franklin Resources had its price target lowered by analysts at Keefe, Bruyette & Woods from $25.00 to $23.00. They now have an “underperform” rating on the stock.
• 7/29/2024 – Franklin Resources had its price target lowered by analysts at BMO Capital Markets from $27.00 to $26.00. They now have a “market perform” rating on the stock.
• 7/29/2024 – Franklin Resources had its price target raised by analysts at TD Cowen from $23.00 to $24.00. They now have a “hold” rating on the stock.
• 7/29/2024 – Franklin Resources had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $24.00 to $23.00. They now have a “hold” rating on the stock.
• 7/10/2024 – Franklin Resources had its price target lowered by analysts at UBS Group AG from $25.00 to $24.00. They now have a “neutral” rating on the stock.
• 7/8/2024 – Franklin Resources had its price target lowered by analysts at TD Cowen from $25.50 to $23.00. They now have a “hold” rating on the stock.

Franklin Resources Stock Up 1.0 %

Shares of Franklin Resources stock traded up $0.23 on Tuesday, reaching $22.81. 4,568,281 shares of the company were exchanged, compared to its average volume of 3,684,893. Franklin Resources, Inc. has a 1-year low of $21.57 and a 1-year high of $30.32. The company has a market cap of $12.00 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 2.66 and a beta of 1.43. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.82 and a quick ratio of 1.82. The stock’s 50 day moving average price is $22.90 and its 200-day moving average price is $25.19.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Monday, April 29th. The closed-end fund reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $1.66 billion. Franklin Resources had a net margin of 10.24% and a return on equity of 10.74%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. As a group, equities analysts forecast that Franklin Resources, Inc. will post 2.43 EPS for the current year.

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend was Friday, June 28th. Franklin Resources’s dividend payout ratio (DPR) is 70.86%.

Insider Activity at Franklin Resources

In other Franklin Resources news, major shareholder Charles B. Johnson purchased 200,000 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was purchased at an average cost of $22.80 per share, with a total value of $4,560,000.00. Following the completion of the acquisition, the insider now directly owns 88,703,192 shares of the company’s stock, valued at approximately $2,022,432,777.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 24.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Franklin Resources

Several large investors have recently modified their holdings of the company. SG Americas Securities LLC raised its stake in shares of Franklin Resources by 94.4% during the fourth quarter. SG Americas Securities LLC now owns 29,136 shares of the closed-end fund’s stock worth $868,000 after purchasing an additional 14,146 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Franklin Resources by 240.5% during the fourth quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund’s stock worth $26,000 after purchasing an additional 623 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Franklin Resources by 35.1% during the fourth quarter. Global Retirement Partners LLC now owns 3,027 shares of the closed-end fund’s stock worth $84,000 after purchasing an additional 786 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Franklin Resources by 17.2% during the fourth quarter. Fifth Third Bancorp now owns 12,587 shares of the closed-end fund’s stock worth $375,000 after purchasing an additional 1,846 shares during the last quarter. Finally, LMG Wealth Partners LLC raised its stake in shares of Franklin Resources by 12.7% during the fourth quarter. LMG Wealth Partners LLC now owns 83,449 shares of the closed-end fund’s stock worth $2,486,000 after purchasing an additional 9,400 shares during the last quarter. 47.56% of the stock is owned by institutional investors and hedge funds.

Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.