Franklin Resources, Inc. (NYSE:BEN) Declares $0.31 Quarterly Dividend

Franklin Resources, Inc. (NYSE:BENGet Free Report) declared a quarterly dividend on Tuesday, May 21st, RTT News reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.31 per share by the closed-end fund on Friday, July 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.19%.

Franklin Resources has decreased its dividend by an average of 6.2% annually over the last three years and has raised its dividend every year for the last 1 years. Franklin Resources has a dividend payout ratio of 44.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Franklin Resources to earn $2.82 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 44.0%.

Franklin Resources Stock Down 0.3 %

Shares of Franklin Resources stock traded down $0.07 during trading on Tuesday, reaching $23.87. 2,435,531 shares of the company traded hands, compared to its average volume of 3,750,937. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.82 and a quick ratio of 1.82. The firm has a market capitalization of $12.56 billion, a PE ratio of 13.68, a P/E/G ratio of 1.89 and a beta of 1.44. The company has a 50 day moving average price of $25.67 and a 200-day moving average price of $26.47. Franklin Resources has a 1-year low of $21.88 and a 1-year high of $30.32.

Franklin Resources (NYSE:BENGet Free Report) last released its quarterly earnings data on Monday, April 29th. The closed-end fund reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Franklin Resources had a return on equity of 10.82% and a net margin of 11.09%. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the company earned $0.61 EPS. Franklin Resources’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities research analysts expect that Franklin Resources will post 2.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BEN. Morgan Stanley increased their target price on Franklin Resources from $24.00 to $25.00 and gave the stock an “underweight” rating in a report on Wednesday, April 17th. StockNews.com downgraded Franklin Resources from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on Franklin Resources from $29.00 to $24.00 and set a “hold” rating for the company in a research note on Tuesday, April 30th. TD Cowen cut their price objective on shares of Franklin Resources from $29.00 to $25.50 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Finally, BMO Capital Markets lowered their target price on shares of Franklin Resources from $30.00 to $27.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.00.

Read Our Latest Stock Analysis on BEN

About Franklin Resources

(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.

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Dividend History for Franklin Resources (NYSE:BEN)

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