Franklin Resources Inc. (NYSE:BEN) – Analysts at Jefferies Group boosted their Q4 2016 earnings per share (EPS) estimates for shares of Franklin Resources in a research report issued to clients and investors on Tuesday. Jefferies Group analyst D. Fannon now anticipates that the firm will earn $0.67 per share for the quarter, up from their prior forecast of $0.66. Jefferies Group currently has a “Hold” rating and a $36.00 target price on the stock. Jefferies Group also issued estimates for Franklin Resources’ FY2017 earnings at $2.81 EPS.
A number of other research firms have also issued reports on BEN. Barclays PLC reiterated an “underweight” rating and set a $31.00 target price on shares of Franklin Resources in a report on Friday, July 15th. Deutsche Bank AG reiterated a “hold” rating on shares of Franklin Resources in a report on Sunday, July 10th. Citigroup Inc. reduced their target price on shares of Franklin Resources from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, September 20th. Keefe, Bruyette & Woods increased their target price on shares of Franklin Resources from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, July 29th. Finally, Zacks Investment Research lowered shares of Franklin Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $37.88.
Shares of Franklin Resources (NYSE:BEN) traded down 0.993% during midday trading on Thursday, hitting $34.405. 1,975,991 shares of the stock were exchanged. The stock has a 50 day moving average price of $35.73 and a 200-day moving average price of $35.94. The company has a market cap of $19.82 billion, a PE ratio of 12.728 and a beta of 1.66. Franklin Resources has a 12 month low of $30.56 and a 12 month high of $42.23.
Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Thursday, July 28th. The closed-end fund reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.10. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Franklin Resources had a net margin of 23.44% and a return on equity of 12.98%. The business’s quarterly revenue was down 18.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.07%. The ex-dividend date is Wednesday, September 28th. Franklin Resources’s payout ratio is currently 26.57%.
In other Franklin Resources news, EVP Craig Steven Tyle sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $36.18, for a total transaction of $180,900.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer M. Johnson sold 15,892 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $35.99, for a total transaction of $571,953.08. Following the transaction, the insider now directly owns 1,473,782 shares in the company, valued at $53,041,414.18. The disclosure for this sale can be found here. Company insiders own 20.41% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC increased its position in shares of Franklin Resources by 1,520.5% in the second quarter. Acadian Asset Management LLC now owns 3,160 shares of the closed-end fund’s stock valued at $105,000 after buying an additional 2,965 shares during the last quarter. FTB Advisors Inc. increased its position in shares of Franklin Resources by 8.4% in the second quarter. FTB Advisors Inc. now owns 3,208 shares of the closed-end fund’s stock valued at $107,000 after buying an additional 248 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Franklin Resources by 21.1% in the second quarter. Van ECK Associates Corp now owns 3,347 shares of the closed-end fund’s stock valued at $112,000 after buying an additional 583 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Franklin Resources by 426.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,352 shares of the closed-end fund’s stock valued at $179,000 after buying an additional 4,335 shares during the last quarter. Finally, Alpha Windward LLC increased its position in shares of Franklin Resources by 24.5% in the second quarter. Alpha Windward LLC now owns 5,438 shares of the closed-end fund’s stock valued at $181,000 after buying an additional 1,071 shares during the last quarter. 48.39% of the stock is currently owned by institutional investors.
About Franklin Resources
Franklin Resources, Inc (Franklin), is a holding company. Franklin together with its various subsidiaries (collectively, the Company), is referred to as Franklin Templeton Investments, is a global investment management organization offering investment management and related services under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names.
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