Franklin Resources, Inc. (NYSE:BEN) Stock Has Average Price Target of $35.89 According to Brokerages

Franklin Resources, Inc. (NYSE:BEN) has received a consensus rating of “Hold” from the eleven analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $35.89.

BEN has been the topic of several recent analyst reports. Evercore reissued an “underperform” rating and set a $35.00 target price on shares of Franklin Resources in a research note on Friday, July 10th. 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 price target for the company. Barclays restated a “mixed” rating on shares of Franklin Resources in a report on Wednesday, October 14th. TD Cowen dropped their target price on Franklin Resources from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Finally, JPMorgan Chase & Co. boosted their price target on Franklin Resources from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, October 12th.

Franklin Resources Stock Performance

BEN opened at $32.41 on Friday. The business has a fifty day simple moving average of $32.68 and a 200-day simple moving average of $30.26. The firm has a market cap of $16.46 billion, a PE ratio of 11.42, a P/E/G ratio of 0.57 and a beta of 1.56. Franklin Resources has a fifty-two week low of $21.10 and a fifty-two week high of $36.28. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.22.

Franklin Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.1%. Franklin Resources’s payout ratio is 89.80%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Franklin Resources during the second quarter worth about $961,845,000. Azora Capital LP bought a new position in shares of Franklin Resources in the 2nd quarter valued at $229,850,000. Bank of New York Mellon Corp acquired a new position in Franklin Resources during the second quarter worth about $152,692,000. Gallagher Fiduciary Advisors LLC acquired a new position in Franklin Resources during the 2nd quarter worth approximately $45,904,000. Finally, Bank of America Corp DE acquired a new position in shares of Franklin Resources during the second quarter worth $41,068,000. 47.56% of the stock is currently owned by institutional investors.

Franklin Resources Company Profile

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.