BMO Capital Markets Forecasts Strong Price Appreciation for Franklin Resources (NYSE:BEN) Stock

Franklin Resources (NYSE:BEN) had its price target lifted by BMO Capital Markets from $20.00 to $23.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a market perform rating on the closed-end fund’s stock.

Several other equities research analysts have also recently issued reports on BEN. Morgan Stanley raised their price target on shares of Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. UBS Group cut their price target on Franklin Resources from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Barclays decreased their price objective on Franklin Resources from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. StockNews.com upgraded Franklin Resources from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. decreased their price target on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.86.

Franklin Resources Trading Down 0.7 %

Shares of BEN opened at $20.65 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.63 and a quick ratio of 1.63. Franklin Resources has a 1-year low of $18.83 and a 1-year high of $28.61. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 1.51 and a beta of 1.42. The firm has a 50 day simple moving average of $20.79 and a 200-day simple moving average of $20.93.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share 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 quarter in the prior year, the business earned $0.65 earnings per share. Equities analysts forecast that Franklin Resources will post 2.19 EPS for the current fiscal year.

Franklin Resources Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s payout ratio is currently 196.93%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BEN. MFA Wealth Advisors LLC purchased a new stake in Franklin Resources during the third quarter worth approximately $26,000. Matrix Trust Co acquired a new position in shares of Franklin Resources during the 3rd quarter valued at $29,000. Smartleaf Asset Management LLC boosted its position in Franklin Resources by 44.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 505 shares during the period. Larson Financial Group LLC increased its holdings in Franklin Resources by 254.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock valued at $36,000 after purchasing an additional 1,277 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in Franklin Resources in the third quarter valued at about $39,000. Hedge funds and other institutional investors own 47.56% of the company’s stock.

About Franklin Resources

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.