Franklin Resources Inc. [NYSE: BEN] plunged by -$0.19 during the normal trading session on Thursday and reaching a high of $30.49 during the day while it closed the day at $30.26. The company report on April 1, 2021 that Templeton Global Income Fund (“GIM”) Announces Its First Monthly Distribution Pursuant to Previously Announced Managed Distribution Plan and Additional Investment Strategies.
Templeton Global Income Fund [NYSE: GIM] announced a monthly distribution from net investment income of $0.0377 per share, payable on April 30, 2021, to shareholders of record on April 15, 2021 (Ex-Dividend Date: April 14, 2021).
As recently announced, the Fund’s Board authorized the implementation of a managed distribution plan pursuant to which the Fund will make monthly distributions to shareholders at an annual minimum fixed rate of 7.5%, based on the average monthly net asset value (NAV) of the Fund’s common shares (the “Plan”). The Plan, which commences with the Fund’s April distribution, is intended to provide shareholders with a constant, but not guaranteed, fixed minimum rate of distribution each month and is intended to narrow the discount between the market price and the NAV of the Fund’s common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund’s investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund’s capital loss carryovers from prior years. The Plan is subject to periodic review by the Board and may be amended or terminated at any time.
Franklin Resources Inc. stock has also gained 2.23% of its value over the past 7 days. However, BEN stock has inclined by 18.53% in the 3 months of the year. Over the past six months meanwhile, it has gained 44.72% and gained 21.09% year-on date.
The market cap for BEN stock reached $15.01 billion, with 491.10 million shares outstanding and 288.52 million shares in the current float. Compared to the average trading volume of 3.60M shares, BEN reached a trading volume of 2986438 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Franklin Resources Inc. [BEN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BEN shares is $26.81 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BEN stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BMO Capital Markets have made an estimate for Franklin Resources Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 29, 2021. The new note on the price target was released on January 05, 2021, representing the official price target for Franklin Resources Inc. stock. Previously, the target price had yet another raise to $23, while Keefe Bruyette analysts kept a Mkt Perform rating on BEN stock. On October 19, 2020, analysts increased their price target for BEN shares from 24 to 28.
The Average True Range (ATR) for Franklin Resources Inc. is set at 0.84, with the Price to Sales ratio for BEN stock in the period of the last 12 months amounting to 2.44. The Price to Book ratio for the last quarter was 1.43, with the Price to Cash per share for the same quarter was set at 8.91. Price to Free Cash Flow for BEN in the course of the last twelve months was 23.07.
BEN stock trade performance evaluation
Franklin Resources Inc. [BEN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.23. With this latest performance, BEN shares gained by 16.12% in over the last four-week period, additionally plugging by 44.72% over the last 6 months – not to mention a rise of 81.85% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BEN stock in for the last two-week period is set at 59.56, with the RSI for the last a single of trading hit 59.88, and the three-weeks RSI is set at 59.13 for Franklin Resources Inc. [BEN]. The present Moving Average for the last 50 days of trading for this stock 27.99, while it was recorded at 30.36 for the last single week of trading, and 23.58 for the last 200 days.
Franklin Resources Inc. [BEN]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Franklin Resources Inc. [BEN] shares currently have an operating margin of +24.25 and a Gross Margin at +66.68. Franklin Resources Inc.’s Net Margin is presently recorded at +14.10.
Return on Total Capital for BEN is now 9.43, given the latest momentum, and Return on Invested Capital for the company is 6.14. Return on Equity for this stock inclined to 7.83, with Return on Assets sitting at 4.51. When it comes to the capital structure of this company, Franklin Resources Inc. [BEN] has a Total Debt to Total Equity ratio set at 49.15. Additionally, BEN Total Debt to Total Capital is recorded at 32.95, with Total Debt to Total Assets ending up at 24.59. Long-Term Debt to Equity for the company is recorded at 47.06, with the Long-Term Debt to Total Capital now at 31.55.
Reflecting on the efficiency of the workforce at the company, Franklin Resources Inc. [BEN] managed to generate an average of $66,407 per employee. Receivables Turnover for the company is 5.45 with a Total Asset Turnover recorded at a value of 0.32.
Earnings per share (EPS) analysis for Franklin Resources Inc. [BEN] stock
With the latest financial reports released by the company, Franklin Resources Inc. posted 0.66/share EPS, while the average EPS was predicted by analysts to be reported at 0.42/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 57.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BEN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Franklin Resources Inc. go to 4.88%.
Franklin Resources Inc. [BEN]: Insider Ownership positions
There are presently around $6,915 million, or 47.90% of BEN stock, in the hands of institutional investors. The top three institutional holders of BEN stocks are: VANGUARD GROUP INC with ownership of 31,487,649, which is approximately 5.744% of the company’s market cap and around 18.70% of the total institutional ownership; STATE STREET CORP, holding 27,403,029 shares of the stock with an approximate value of $829.22 million in BEN stocks shares; and BLACKROCK INC., currently with $809.94 million in BEN stock with ownership of nearly -5.926% of the company’s market capitalization.
Positions in Franklin Resources Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 246 institutional holders increased their position in Franklin Resources Inc. [NYSE:BEN] by around 22,884,430 shares. Additionally, 244 investors decreased positions by around 30,198,788 shares, while 76 investors held positions by with 175,423,423 shares. The mentioned changes placed institutional holdings at 228,506,641 shares, according to the latest SEC report filing. BEN stock had 86 new institutional investments in for a total of 9,869,035 shares, while 51 institutional investors sold positions of 11,704,472 shares during the same period.