Franklin Resources (NYSE:BEN) Announces Earnings Results

Franklin Resources (NYSE:BEN) posted its quarterly earnings results on Monday. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01), Briefing.com reports. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $1.70 billion. Franklin Resources had a return on equity of 10.60% and a net margin of 10.24%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share.

Franklin Resources Trading Down 3.3 %

BEN stock opened at $20.16 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.71 and a quick ratio of 1.71. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 2.81 and a beta of 1.38. The business has a fifty day moving average price of $20.20 and a 200 day moving average price of $21.99. Franklin Resources has a fifty-two week low of $18.94 and a fifty-two week high of $30.32.

Franklin Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.31 per share. The ex-dividend date was Monday, September 30th. This represents a $1.24 dividend on an annualized basis and a yield of 6.15%. Franklin Resources’s dividend payout ratio (DPR) is presently 76.07%.

Insider Transactions at Franklin Resources

In other Franklin Resources news, CEO Jennifer M. Johnson purchased 18,900 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $20.95 per share, with a total value of $395,955.00. Following the completion of the acquisition, the chief executive officer now directly owns 216,900 shares of the company’s stock, valued at $4,544,055. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Jennifer M. Johnson purchased 18,900 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $20.95 per share, with a total value of $395,955.00. Following the completion of the acquisition, the chief executive officer now directly owns 216,900 shares in the company, valued at approximately $4,544,055. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jennifer M. Johnson acquired 12,700 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was bought at an average price of $19.66 per share, with a total value of $249,682.00. Following the transaction, the chief executive officer now directly owns 2,637,700 shares in the company, valued at $51,857,182. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 231,600 shares of company stock worth $4,537,637 and have sold 24,024 shares worth $1,051,375. Company insiders own 24.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. The Goldman Sachs Group lowered their price target on Franklin Resources from $23.75 to $21.25 and set a “sell” rating on the stock in a research note on Monday, September 30th. BMO Capital Markets cut their target price on Franklin Resources from $27.00 to $26.00 and set a “market perform” rating for the company in a research note on Monday, July 29th. Barclays reduced their target price on Franklin Resources from $20.00 to $19.00 and set an “underweight” rating for the company in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Franklin Resources from $24.00 to $23.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $23.00 price objective on shares of Franklin Resources in a report on Thursday, August 22nd. Five analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.43.

Franklin Resources Company Profile

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.