Analysts Set Franklin Resources, Inc. (NYSE:BEN) Target Price at $25.15

Franklin Resources, Inc. (NYSE:BEN) has been given an average recommendation of “Reduce” by the eight research firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $24.90.

Several research firms recently issued reports on BEN. TD Cowen boosted their target price on shares of Franklin Resources from $23.00 to $24.00 and gave the company a “hold” rating in a report on Monday, July 29th. BMO Capital Markets dropped their target price on shares of Franklin Resources from $27.00 to $26.00 and set a “market perform” rating on the stock in a report on Monday, July 29th. Morgan Stanley boosted their target price on shares of Franklin Resources from $24.00 to $25.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Franklin Resources from $24.00 to $23.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Finally, UBS Group dropped their price objective on shares of Franklin Resources from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th.

Insider Transactions at Franklin Resources

In other Franklin Resources news, major shareholder Charles B. Johnson bought 200,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was bought at an average cost of $22.80 per share, with a total value of $4,560,000.00. Following the completion of the transaction, the insider now directly owns 88,703,192 shares in the company, valued at approximately $2,022,432,777.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 24.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Franklin Resources

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Franklin Resources by 240.5% in the 4th quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund’s stock worth $26,000 after purchasing an additional 623 shares in the last quarter. Headlands Technologies LLC bought a new stake in Franklin Resources in the 1st quarter worth about $32,000. Tobam grew its position in Franklin Resources by 2,170.0% in the 4th quarter. Tobam now owns 1,135 shares of the closed-end fund’s stock worth $34,000 after purchasing an additional 1,085 shares in the last quarter. Principal Securities Inc. bought a new stake in Franklin Resources in the 4th quarter worth about $35,000. Finally, Trust Co. of Vermont bought a new stake in Franklin Resources in the 4th quarter worth about $45,000. 47.56% of the stock is owned by institutional investors.

Franklin Resources Price Performance

BEN stock opened at $21.89 on Monday. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 2.53 and a beta of 1.43. The company has a quick ratio of 1.82, a current ratio of 1.71 and a debt-to-equity ratio of 0.93. Franklin Resources has a 12-month low of $21.45 and a 12-month high of $30.32. The company’s fifty day simple moving average is $22.82 and its 200 day simple moving average is $25.07.

Franklin Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 5.66%. The ex-dividend date of this dividend was Friday, June 28th. Franklin Resources’s payout ratio is presently 70.86%.

Franklin Resources Company Profile

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.