Franklin Resources, Inc. (NYSE:BEN) Stock Now Rated “Hold” by Wall Street Analysts

Shares of Franklin Resources, Inc. (NYSE:BEN) have received an average recommendation of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $35.89.

Several research analysts have recently weighed in on the stock. UBS Group started coverage on shares of Franklin Resources in a research report on Wednesday, October 7th. They issued a “buy” rating and a $40.00 target price on the stock. Morgan Stanley upped their price target 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. Zacks Research lowered shares of Franklin Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Evercore reiterated an “underperform” rating and set a $35.00 price objective on shares of Franklin Resources in a research report on Friday, July 10th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Franklin Resources in a research report on Monday, August 31st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BEN. BlackRock Inc. bought a new position in shares of Franklin Resources during the 2nd quarter valued at $961,845,000. Azora Capital LP acquired a new stake in shares of Franklin Resources in the 2nd quarter valued at $229,850,000. Bank of New York Mellon Corp bought a new stake in Franklin Resources in the second quarter worth $152,692,000. Bahl & Gaynor LLC bought a new stake in Franklin Resources in the third quarter worth $49,527,000. Finally, Gallagher Fiduciary Advisors LLC acquired a new position in Franklin Resources during the second quarter worth $45,904,000. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Franklin Resources Price Performance

BEN stock opened at $32.26 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.22. Franklin Resources has a one year low of $21.10 and a one year high of $36.28. The firm has a market capitalization of $16.39 billion, a PE ratio of 21.95, a P/E/G ratio of 0.60 and a beta of 1.56. The firm has a 50-day moving average of $32.60 and a two-hundred day moving average of $30.33.

Franklin Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Wednesday, September 30th. Franklin Resources’s dividend payout ratio (DPR) is 89.80%.

About Franklin Resources

Franklin Resources, Inc, operating under the Franklin Templeton name, is a global investment management organization headquartered in San Mateo, California. The company provides investment solutions to individuals, financial professionals, institutions, and other clients worldwide.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios, and alternative investment strategies. Through its investment teams and specialist affiliates, Franklin Templeton offers capabilities across equities, fixed income, multi-asset strategies, private markets, real assets, and other areas of asset management.

Franklin Resources was founded in 1947 by Rupert H.