Franklin Resources (BEN) Issues Quarterly Earnings Results

Franklin Resources (NYSE:BEN) posted its earnings results on Thursday. The closed-end fund reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.39, Fidelity Earnings reports. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Franklin Resources had a net margin of 10.72% and a return on equity of 15.40%.

Shares of NYSE BEN traded down $0.03 during trading hours on Friday, hitting $29.31. 5,607,549 shares of the stock were exchanged, compared to its average volume of 3,494,396. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07. The company has a market cap of $15.31 billion, a P/E ratio of 9.77, a P/E/G ratio of 1.58 and a beta of 1.49. Franklin Resources has a one year low of $28.12 and a one year high of $45.96.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, September 27th. Franklin Resources’s dividend payout ratio is currently 30.56%.



In related news, insider Jed A. Plafker sold 4,820 shares of the company’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $32.85, for a total transaction of $158,337.00. Following the completion of the sale, the insider now directly owns 56,369 shares of the company’s stock, valued at approximately $1,851,721.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Craig Steven Tyle sold 11,165 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $31.35, for a total transaction of $350,022.75. The disclosure for this sale can be found here. 22.20% of the stock is currently owned by corporate insiders.

Several analysts have commented on the stock. Barclays decreased their target price on shares of Franklin Resources from $32.00 to $30.00 and set an “underweight” rating for the company in a research report on Monday, July 30th. Wells Fargo & Co decreased their target price on shares of Franklin Resources from $35.00 to $34.00 and set a “market perform” rating for the company in a research report on Monday, July 30th. Zacks Investment Research raised shares of Franklin Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, August 24th. Morgan Stanley decreased their target price on shares of Franklin Resources from $32.00 to $30.00 and set an “underweight” rating for the company in a research report on Thursday, August 2nd. Finally, Deutsche Bank decreased their target price on shares of Franklin Resources from $33.00 to $32.00 and set a “hold” rating for the company in a research report on Thursday, August 16th. Six analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $35.08.

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.

Further Reading: What is a balanced fund?

Earnings History for Franklin Resources (NYSE:BEN)

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