Franklin Resources (NYSE:BEN) Share Price Crosses Above 50 Day Moving Average – What’s Next?

Franklin Resources, Inc. (NYSE:BEN)’s share price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 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.

Analyst Ratings Changes

BEN has been the topic of several research reports. Wall Street Zen lowered shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Keefe, Bruyette & Woods initiated coverage on shares of Franklin Resources in a research note on Wednesday, September 9th. They set a “hold” rating and a $38.00 price target for the company. Morgan Stanley lifted their price target on shares of Franklin Resources from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, September 25th. Zacks Research downgraded Franklin Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Finally, Evercore reissued an “underperform” rating and set a $35.00 price objective on shares of Franklin Resources in a report on Friday, July 10th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Franklin Resources currently has an average rating of “Hold” and a consensus price target of $35.89.

Franklin Resources Stock Performance

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

Franklin Resources Announces Dividend

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

Institutional Investors Weigh In On Franklin Resources

Institutional investors have recently added to or reduced their stakes in the company. Lido Advisors LLC lifted its position in shares of Franklin Resources by 38.6% during the third quarter. Lido Advisors LLC now owns 42,211 shares of the closed-end fund’s stock valued at $1,428,000 after buying an additional 11,758 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of Franklin Resources by 84.2% in the 3rd quarter. Keybank National Association OH now owns 52,346 shares of the closed-end fund’s stock valued at $1,837,000 after buying an additional 23,925 shares in the last quarter. Elevated Capital Advisors LLC grew its position in shares of Franklin Resources by 100.8% in the 3rd quarter. Elevated Capital Advisors LLC now owns 5,017 shares of the closed-end fund’s stock worth $161,000 after buying an additional 2,519 shares during the last quarter. Csenge Advisory Group purchased a new position in shares of Franklin Resources in the 3rd quarter worth approximately $270,000. Finally, New York Life Investment Management LLC boosted its stake in Franklin Resources by 87.1% in the third quarter. New York Life Investment Management LLC now owns 153,323 shares of the closed-end fund’s stock valued at $5,384,000 after acquiring an additional 71,378 shares in the last quarter. 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.