1 week Ago By Defense World Staff
Franklin Resources (NYSE:BEN – Free Report) had its price objective trimmed by Wells Fargo & Company from $24.00 to $20.00 in a report published on Tuesday morning,Benzinga reports.
The firm currently has an equal weight rating on the closed-end fund’s stock.BEN has been the subject of several other research reports. Bank of America lowered their price objective on shares of Franklin Resources from $20.
00 to $17.00 and set an “underperform” rating for the company in a research note on Thursday, April 3rd. UBS Group boosted their price target on shares of Franklin Resources from $19.
00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods increased their price objective on Franklin Resources from $19.
00 to $21.00 and gave the company an “underperform” rating in a research note on Monday, February 3rd. BMO Capital Markets lifted their target price on Franklin Resources from $20.
00 to $23.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Finally, Barclays upped their price target on Franklin Resources from $19.
00 to $22.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a sell rating and eight have given a hold rating to the company.
Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.88.Read Our Latest Analysis on BENFranklin Resources Stock Down 1.
3 %Shares of BEN opened at $16.65 on Tuesday. The company has a current ratio of 1.
66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89.
The firm has a market cap of $8.74 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 2.
31 and a beta of 1.36. The company’s 50-day moving average price is $19.
82 and its 200 day moving average price is $20.44. Franklin Resources has a 12-month low of $16.
36 and a 12-month high of $27.55. Franklin Resources (NYSE:BEN – Get Free Report) last released its quarterly 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 9.45% and a net margin of 4.
32%. During the same quarter last year, the company earned $0.65 earnings per share.
On average, sell-side analysts forecast that Franklin Resources will post 2.16 earnings per share for the current year. Franklin Resources Dividend AnnouncementThe company also recently declared a quarterly dividend, which will be paid on Friday, April 11th.
Shareholders of record on Monday, March 31st will be given a dividend of $0.32 per share. This represents a $1.
28 annualized dividend and a yield of 7.69%. The ex-dividend date is Monday, March 31st.
Franklin Resources’s dividend payout ratio (DPR) is 196.92%. Institutional Investors Weigh In On Franklin ResourcesSeveral large investors have recently modified their holdings of the company.
CoreCap Advisors LLC increased its stake in Franklin Resources by 147.1% in the 4th quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund’s stock valued at $25,000 after buying an additional 737 shares during the period.
GeoWealth Management LLC increased its stake in shares of Franklin Resources by 350.4% during the fourth quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund’s stock worth $26,000 after acquiring an additional 981 shares during the period.
Smartleaf Asset Management LLC raised its holdings in Franklin Resources by 44.5% during the fourth 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 in the last quarter.
Headlands Technologies LLC acquired a new stake in Franklin Resources in the fourth quarter valued at about $34,000. Finally, Principal Securities Inc. boosted its holdings in Franklin Resources by 561.
1% in the 4th quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund’s stock valued at $40,000 after purchasing an additional 1,661 shares in the last quarter.
47.56% of the stock is owned by institutional investors and hedge funds. Franklin Resources Company Profile (Get Free Report)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.Read MoreFive stocks we like better than Franklin ResourcesTransportation Stocks InvestingTariff-Proof Stocks: 3 Big Bargains With Huge Upside PotentialWhy Invest in 5G? How to Invest in 5G Stocks Qualcomm Breaks Down But RSI Signals It’s Severely OversoldHow to find penny stocks to invest and trade Tesla’s #1 Bull Cuts Target But Says It’s Still a Buy.
