Franklin Resources (NYSE:BEN) Sets New 52-Week Low – Should You Sell?

Franklin Resources, Inc. (NYSE:BEN)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $18.74 and last traded at $19.14, with a volume of 2057283 shares changing hands. The stock had previously closed at $18.96.

Analysts Set New Price Targets

Several research firms have 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 company an “underperform” rating in a research report on Monday, February 3rd. BMO Capital Markets raised their price objective on shares of Franklin Resources from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. The Goldman Sachs Group upgraded Franklin Resources from a “sell” rating to a “neutral” rating and upped their price objective for the company from $21.00 to $22.00 in a report on Monday, January 6th. Morgan Stanley boosted their price objective on Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. Finally, UBS Group raised their price objective on Franklin Resources from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.86.

Franklin Resources Stock Performance

The company has a 50-day moving average price of $20.15 and a two-hundred day moving average price of $20.58. 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 company has a market capitalization of $10.13 billion, a PE ratio of 29.65, a PEG ratio of 2.31 and a beta of 1.42.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. Franklin Resources had a net margin of 4.32% and a return on equity of 9.45%. During the same period last year, the business posted $0.65 EPS. Analysts predict that Franklin Resources, Inc. will post 2.16 EPS for the current fiscal year.

Franklin Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date of this dividend is Monday, March 31st. Franklin Resources’s payout ratio is 196.92%.

Hedge Funds Weigh In On Franklin Resources

A number of institutional investors have recently added to or reduced their stakes in the company. Xponance Inc. increased its holdings in shares of Franklin Resources by 1.2% in the 4th quarter. Xponance Inc. now owns 43,687 shares of the closed-end fund’s stock worth $886,000 after purchasing an additional 497 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Franklin Resources by 44.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 505 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Franklin Resources by 6.2% during the fourth quarter. Bessemer Group Inc. now owns 8,789 shares of the closed-end fund’s stock worth $177,000 after purchasing an additional 510 shares in the last quarter. Hardy Reed LLC lifted its holdings in shares of Franklin Resources by 3.7% in the fourth quarter. Hardy Reed LLC now owns 16,721 shares of the closed-end fund’s stock worth $339,000 after buying an additional 591 shares in the last quarter. Finally, Anchor Investment Management LLC grew its holdings in Franklin Resources by 30.2% during the 3rd quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund’s stock valued at $52,000 after buying an additional 604 shares in the last quarter. Institutional investors own 47.56% of the company’s stock.

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.