Franklin Resources (NYSE:BEN) Research Coverage Started at UBS Group

UBS Group began coverage on shares of Franklin Resources (NYSE:BEN) in a report issued on Wednesday morning, Marketbeat.com reports. The firm issued a buy rating and a $40.00 price target on the closed-end fund’s stock.

Several other research firms have also recently weighed in on BEN. Morgan Stanley upped their price target 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. Weiss Ratings restated a “buy (b-)” rating on shares of Franklin Resources in a report on Monday, August 31st. Zacks Research cut shares of Franklin Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Wall Street Zen raised shares of Franklin Resources from a “hold” rating to a “buy” rating in a research note on Sunday, September 27th. Finally, Barclays increased their target price on Franklin Resources from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Franklin Resources currently has an average rating of “Hold” and an average target price of $35.89.

Franklin Resources Trading Down 1.3%

NYSE:BEN opened at $31.98 on Wednesday. Franklin Resources has a fifty-two week low of $21.10 and a fifty-two week high of $36.28. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $16.25 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 0.57 and a beta of 1.54. The business’s 50-day simple moving average is $33.63 and its 200-day simple moving average is $31.44.

Franklin Resources (NYSE:BEN) last posted its earnings results on Friday, July 31st. The closed-end fund reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%. Franklin Resources’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 EPS. Sell-side analysts expect that Franklin Resources will post 2.91 earnings per share for the current fiscal year.

Franklin Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Wednesday, September 30th. Franklin Resources’s dividend payout ratio (DPR) is currently 89.80%.

Institutional Trading of Franklin Resources

A number of institutional investors have recently made changes to their positions in the business. First Community Trust NA bought a new stake in shares of Franklin Resources during the 3rd quarter worth approximately $25,000. Compass Financial Management LLC acquired a new stake in shares of Franklin Resources in the 2nd quarter valued at approximately $36,000. Armstrong Advisory Group Inc. bought a new position in shares of Franklin Resources in the third quarter valued at $35,000. Elevation Wealth Partners LLC grew its stake in shares of Franklin Resources by 179.2% in the third quarter. Elevation Wealth Partners LLC now owns 1,181 shares of the closed-end fund’s stock valued at $39,000 after buying an additional 758 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Franklin Resources by 209.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the closed-end fund’s stock worth $39,000 after buying an additional 813 shares during the last quarter. Institutional investors own 47.56% of the company’s stock.

About Franklin Resources

Franklin Resources, Inc, operating under the Franklin Templeton brand, is a global investment management organization. The company provides investment solutions for individual investors, financial professionals, institutions and retirement-plan participants through a range of actively managed and specialized strategies.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investment strategies. Franklin Templeton offers capabilities spanning equities, fixed income, multi-asset investing, private markets and other specialized areas, with investment teams and brands serving different market segments and regions.

Founded in 1947 by Rupert H.