The Goldman Sachs Group Issues Pessimistic Forecast for Franklin Resources (NYSE:BEN) Stock Price

Franklin Resources (NYSE:BEN) had its price objective decreased by The Goldman Sachs Group from $21.50 to $19.00 in a report released on Monday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the closed-end fund’s stock.

Several other research firms have also weighed in on BEN. Keefe, Bruyette & Woods raised their price objective on shares of Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” rating in a report on Monday, February 3rd. Barclays upped their target price on shares of Franklin Resources from $19.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. UBS Group increased their target price on Franklin Resources from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Evercore ISI decreased their price target on shares of Franklin Resources from $19.00 to $17.00 and set an “underperform” rating for the company in a research note on Friday. Finally, TD Cowen reduced their price target on Franklin Resources from $20.00 to $17.50 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Five analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, Franklin Resources has a consensus rating of “Hold” and a consensus target price of $19.38.

Franklin Resources Stock Performance

BEN opened at $18.09 on Monday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $9.50 billion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 2.31 and a beta of 1.36. The stock’s 50 day moving average price is $19.54 and its two-hundred day moving average price is $20.35. Franklin Resources has a 12-month low of $16.25 and a 12-month high of $25.84.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. During the same quarter in the previous year, the firm earned $0.65 EPS. On average, equities analysts forecast that Franklin Resources will post 2.16 earnings per share for the current year.

Franklin Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Monday, March 31st were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 7.08%. The ex-dividend date of this dividend was Monday, March 31st. Franklin Resources’s dividend payout ratio (DPR) is 196.92%.

Institutional Investors Weigh In On Franklin Resources

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Franklin Resources by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 37,715,809 shares of the closed-end fund’s stock worth $765,254,000 after acquiring an additional 1,095,373 shares in the last quarter. Invesco Ltd. lifted its position in shares of Franklin Resources by 9.4% during the 4th quarter. Invesco Ltd. now owns 11,721,446 shares of the closed-end fund’s stock valued at $237,828,000 after acquiring an additional 1,011,755 shares during the period. ProShare Advisors LLC increased its position in Franklin Resources by 19.6% in the 4th quarter. ProShare Advisors LLC now owns 9,403,875 shares of the closed-end fund’s stock valued at $190,805,000 after buying an additional 1,542,478 shares in the last quarter. Geode Capital Management LLC increased its stake in Franklin Resources by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,334,601 shares of the closed-end fund’s stock valued at $147,312,000 after purchasing an additional 422,688 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Franklin Resources by 33.1% in the 4th quarter. First Trust Advisors LP now owns 6,438,863 shares of the closed-end fund’s stock worth $130,645,000 after acquiring an additional 1,599,849 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.

About Franklin Resources

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.