Franklin Resources (NYSE:BEN) Issues Earnings Results

Franklin Resources (NYSE:BENGet Free Report) announced its quarterly earnings data on Monday. The closed-end fund reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07, MarketWatch Earnings reports. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Franklin Resources had a return on equity of 11.18% and a net margin of 12.30%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share.

Franklin Resources Stock Performance

Shares of BEN opened at $27.13 on Wednesday. The firm has a market cap of $13.44 billion, a PE ratio of 14.28, a PEG ratio of 1.37 and a beta of 1.38. The stock’s fifty day moving average price is $27.56 and its two-hundred day moving average price is $26.24. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.88 and a quick ratio of 1.88. Franklin Resources has a 1 year low of $21.88 and a 1 year high of $34.37.

Franklin Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Wednesday, January 3rd were paid a $0.31 dividend. The ex-dividend date was Tuesday, January 2nd. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.57%. Franklin Resources’s payout ratio is presently 65.26%.

Insider Buying and Selling at Franklin Resources

In related news, EVP Alok Sethi sold 25,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $25.38, for a total transaction of $634,500.00. Following the sale, the executive vice president now directly owns 92,481 shares in the company, valued at approximately $2,347,167.78. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 24.13% of the company’s stock.

Hedge Funds Weigh In On Franklin Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC bought a new stake in shares of Franklin Resources in the 2nd quarter valued at about $26,000. Resurgent Financial Advisors LLC bought a new stake in shares of Franklin Resources in the 4th quarter valued at about $27,000. First Capital Advisors Group LLC. bought a new stake in shares of Franklin Resources in the 2nd quarter valued at about $30,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Franklin Resources in the 1st quarter valued at about $41,000. Finally, UniSuper Management Pty Ltd bought a new stake in shares of Franklin Resources in the 2nd quarter valued at about $56,000. 46.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BEN. UBS Group lifted their target price on Franklin Resources from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Morgan Stanley lifted their target price on Franklin Resources from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Friday, January 19th. BMO Capital Markets lifted their target price on Franklin Resources from $27.00 to $30.00 and gave the company a “market perform” rating in a research report on Tuesday. TD Cowen began coverage on Franklin Resources in a research report on Thursday, January 4th. They set a “market perform” rating and a $32.00 target price on the stock. Finally, Jefferies Financial Group cut their target price on Franklin Resources from $28.00 to $27.00 in a research report on Tuesday, October 10th. Five analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.04.

Read Our Latest Stock Analysis on BEN

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.

See Also

Earnings History for Franklin Resources (NYSE:BEN)

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