Franklin Resources (BEN) PT Lowered to $34.00 at Credit Suisse Group

Franklin Resources (NYSE:BEN) had its price objective trimmed by Credit Suisse Group from $57.00 to $34.00 in a report released on Thursday. The brokerage currently has an underperform rating on the closed-end fund’s stock.

Several other equities analysts have also recently weighed in on the company. Zacks Investment Research raised Franklin Resources from a hold rating to a buy rating and set a $49.00 price target on the stock in a report on Thursday, January 11th. Deutsche Bank lowered their price target on Franklin Resources from $40.00 to $37.00 and set a hold rating on the stock in a report on Tuesday, March 6th. ValuEngine cut Franklin Resources from a buy rating to a hold rating in a report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $47.00 price target on shares of Franklin Resources in a report on Friday, December 22nd. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock presently has a consensus rating of Hold and an average target price of $42.80.

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BEN stock traded down $0.76 during midday trading on Thursday, hitting $33.29. The company’s stock had a trading volume of 1,699,644 shares, compared to its average volume of 3,517,365. The stock has a market capitalization of $18,962.05, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.16 and a beta of 1.60. Franklin Resources has a 12 month low of $32.91 and a 12 month high of $47.65. The company has a current ratio of 4.28, a quick ratio of 4.28 and a debt-to-equity ratio of 0.09.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Tuesday, January 30th. The closed-end fund reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.13. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Franklin Resources had a return on equity of 13.88% and a net margin of 10.44%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 EPS. research analysts predict that Franklin Resources will post 3.26 earnings per share for the current year.

The company also recently declared a special dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 29th will be issued a dividend of $3.00 per share. This represents a dividend yield of 2.35%. This is a boost from Franklin Resources’s previous special dividend of $0.50. The ex-dividend date of this dividend is Wednesday, March 28th. Franklin Resources’s dividend payout ratio is presently 30.56%.

Several large investors have recently bought and sold shares of BEN. We Are One Seven LLC purchased a new stake in shares of Franklin Resources in the 4th quarter worth $113,000. Cerebellum GP LLC purchased a new stake in shares of Franklin Resources in the 4th quarter worth $125,000. Valeo Financial Advisors LLC increased its stake in shares of Franklin Resources by 150.9% in the 4th quarter. Valeo Financial Advisors LLC now owns 4,015 shares of the closed-end fund’s stock worth $174,000 after purchasing an additional 2,415 shares in the last quarter. Buckley Wealth Management LLC purchased a new stake in shares of Franklin Resources in the 4th quarter worth $202,000. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Franklin Resources in the 3rd quarter worth $210,000. Hedge funds and other institutional investors own 46.96% of the company’s stock.

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Franklin Resources Company Profile

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

Analyst Recommendations for Franklin Resources (NYSE:BEN)

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