Franklin Resources (NYSE:BEN) Stock Crosses Above 50-Day Moving Average – Time to Sell?

Franklin Resources, Inc. (NYSE:BEN)’s share price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $32.66 and traded as high as $33.89. Franklin Resources shares last traded at $33.8630, with a volume of 4,765,198 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BEN shares. Weiss Ratings restated a “buy (b-)” rating on shares of Franklin Resources in a research note on Monday, August 31st. JPMorgan Chase & Co. increased their price target on Franklin Resources from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, October 12th. Zacks Research downgraded Franklin Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Evercore restated an “underperform” rating and set a $35.00 price target on shares of Franklin Resources in a research note on Friday, July 10th. Finally, Morgan Stanley upped their price objective on shares of Franklin Resources from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, September 25th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.89.

Franklin Resources Trading Up 4.6%

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.22. The stock has a 50-day simple moving average of $32.66 and a 200 day simple moving average of $30.30. The company has a market cap of $17.21 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 0.58 and a beta of 1.56.

Franklin Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. Franklin Resources’s dividend payout ratio (DPR) is currently 89.80%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BEN. United Community Bank grew its position in Franklin Resources by 0.9% during the 2nd quarter. United Community Bank now owns 37,849 shares of the closed-end fund’s stock worth $1,259,000 after purchasing an additional 320 shares during the period. Choreo LLC grew its stake in shares of Franklin Resources by 5.0% during the 3rd quarter. Choreo LLC now owns 7,590 shares of the closed-end fund’s stock worth $244,000 after purchasing an additional 360 shares during the period. Empirical Finance LLC grew its stake in shares of Franklin Resources by 3.7% during the 2nd quarter. Empirical Finance LLC now owns 10,783 shares of the closed-end fund’s stock worth $359,000 after purchasing an additional 380 shares during the period. Greenwich Wealth Management LLC increased its holdings in shares of Franklin Resources by 0.3% during the 2nd quarter. Greenwich Wealth Management LLC now owns 143,825 shares of the closed-end fund’s stock valued at $4,785,000 after purchasing an additional 389 shares in the last quarter. Finally, Caldwell Trust Co lifted its stake in shares of Franklin Resources by 13.0% in the 3rd quarter. Caldwell Trust Co now owns 3,399 shares of the closed-end fund’s stock valued at $109,000 after purchasing an additional 390 shares during the period. Hedge funds and other institutional investors own 47.56% of the company’s stock.

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.