Franklin Resources (NYSE:BEN) Stock Price Down 5% – Here’s Why

Franklin Resources, Inc. (NYSE:BEN) shares fell 5% during trading on Monday . The company traded as low as $20.92 and last traded at $21.14. 1,887,668 shares changed hands during trading, a decline of 58% from the average session volume of 4,477,462 shares. The stock had previously closed at $22.24.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BEN shares. UBS Group raised their target price on Franklin Resources from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Monday. TD Cowen cut their price objective on shares of Franklin Resources from $20.00 to $18.50 and set a “hold” rating on the stock in a report on Tuesday, November 5th. The Goldman Sachs Group upgraded shares of Franklin Resources from a “sell” rating to a “neutral” rating and increased their target price for the company from $21.00 to $22.00 in a report on Monday, January 6th. BMO Capital Markets boosted their price target on shares of Franklin Resources from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Monday. Finally, StockNews.com upgraded shares of Franklin Resources from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.86.

Franklin Resources Trading Down 0.7 %

The firm has a 50 day moving average of $20.79 and a 200 day moving average of $20.93. The firm has a market cap of $10.82 billion, a PE ratio of 31.78, a P/E/G ratio of 1.51 and a beta of 1.42. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.92.

Franklin Resources (NYSE:BEN) last issued its earnings results on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. Franklin Resources had a return on equity of 9.41% and a net margin of 4.32%. During the same period in the prior year, the company posted $0.65 earnings per share. Equities analysts anticipate that Franklin Resources, Inc. will post 2.19 earnings per share for the current year.

Franklin Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 6.20%. The ex-dividend date is Monday, March 31st. Franklin Resources’s payout ratio is 196.93%.

Institutional Trading of Franklin Resources

A number of hedge funds have recently made changes to their positions in BEN. JPMorgan Chase & Co. increased its position in shares of Franklin Resources by 263.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,022,055 shares of the closed-end fund’s stock valued at $40,744,000 after purchasing an additional 1,465,148 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Franklin Resources by 44.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,998,574 shares of the closed-end fund’s stock worth $60,421,000 after buying an additional 925,590 shares in the last quarter. Vest Financial LLC grew its position in Franklin Resources by 32.1% during the fourth quarter. Vest Financial LLC now owns 2,923,399 shares of the closed-end fund’s stock valued at $59,316,000 after acquiring an additional 709,736 shares during the last quarter. State Street Corp raised its stake in shares of Franklin Resources by 2.9% during the third quarter. State Street Corp now owns 21,155,516 shares of the closed-end fund’s stock worth $432,730,000 after acquiring an additional 599,045 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Franklin Resources by 76.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,290,200 shares of the closed-end fund’s stock worth $25,998,000 after acquiring an additional 560,000 shares during the last quarter. 47.56% of the stock is owned by institutional investors.

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.