Franklin Resources (BEN) Declares $0.30 Dividend

Franklin Resources said on February 7, 2023 that its board of directors declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Shareholders of record as of March 30, 2023 will receive the payment on April 14, 2023. Previously, the company paid $0.30 per share.

At the current share price of $30.83 / share, the stock's dividend yield is 3.89%. Looking back five years and taking a sample every week, the average dividend yield has been 3.91%, the lowest has been 2.31%, and the highest has been 7.06%. The standard deviation of yields is 0.93 (n=236).

The current dividend yield is 0.01 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.60. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.11%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 11.27% Downside

As of February 10, 2023, the average one-year price target for Franklin Resources is $27.35. The forecasts range from a low of $23.23 to a high of $35.70. The average price target represents a decrease of 11.27% from its latest reported closing price of $30.83.

The projected annual revenue for Franklin Resources is $7,507MM, a decrease of 6.38%. The projected annual EPS is $2.50, an increase of 26.77%.

What is the Fund Sentiment?

There are 1105 funds or institutions reporting positions in Franklin Resources. This is a decrease of 22 owner(s) or 1.95% in the last quarter. Average portfolio weight of all funds dedicated to BEN is 0.15%, a decrease of 6.22%. Total shares owned by institutions increased in the last three months by 2.25% to 265,853K shares. The put/call ratio of BEN is 0.67, indicating a bullish outlook.

What are large shareholders doing?

SDY - SPDR Dividend ETF holds 15,307K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 13,821K shares, representing an increase of 9.71%. The firm increased its portfolio allocation in BEN by 4.37% over the last quarter.

Capital Research Global Investors holds 13,911K shares representing 2.78% ownership of the company. In it's prior filing, the firm reported owning 8,768K shares, representing an increase of 36.98%. The firm increased its portfolio allocation in BEN by 54.51% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,150K shares representing 1.63% ownership of the company. In it's prior filing, the firm reported owning 8,828K shares, representing a decrease of 8.32%. The firm decreased its portfolio allocation in BEN by 11.16% over the last quarter.

ProShare Advisors holds 7,227K shares representing 1.44% ownership of the company. In it's prior filing, the firm reported owning 6,361K shares, representing an increase of 11.99%. The firm increased its portfolio allocation in BEN by 27.45% over the last quarter.

DVY - iShares Select Dividend ETF holds 7,184K shares representing 1.44% ownership of the company. In it's prior filing, the firm reported owning 7,060K shares, representing an increase of 1.72%. The firm decreased its portfolio allocation in BEN by 11.91% over the last quarter.

Franklin Resources Background Information
(This description is provided by the company.)

Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company brings extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 70 years of investment experience. The company posts information that may be significant for investors in the Investor Relations and News Center sections of its website, and encourages investors to consult those sections regularly.

This story originally appeared on Fintel.