Franklin Resources (NYSE:BEN) Price Target Raised to $19.00

by · The Markets Daily

Franklin Resources (NYSE:BEN – Free Report) had its target price lifted by Barclays from $17.00 to $19.00 in a research note released on Monday morning,Benzinga reports. They currently have an underweight rating on the closed-end fund’s stock.

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods increased their price target on Franklin Resources from $19.00 to $21.00 and gave the stock an “underperform” rating in a research report on Monday, February 3rd. The Goldman Sachs Group dropped their price target on Franklin Resources from $21.50 to $19.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. TD Cowen reduced their price objective on shares of Franklin Resources from $20.00 to $17.50 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company raised their target price on shares of Franklin Resources from $20.00 to $21.50 and gave the company an “equal weight” rating in a report on Monday. Finally, Morgan Stanley cut their price target on shares of Franklin Resources from $18.00 to $15.00 and set an “underweight” rating for the company in a report on Monday, April 7th. Five equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat, Franklin Resources currently has an average rating of “Hold” and an average target price of $19.46.

Get Our Latest Research Report on BEN

Franklin Resources Stock Up 1.9 %

BEN opened at $20.46 on Monday. The stock’s fifty day simple moving average is $18.97 and its 200 day simple moving average is $20.19. Franklin Resources has a 1-year low of $16.25 and a 1-year high of $24.86. The stock has a market cap of $10.74 billion, a PE ratio of 31.47, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89.

Franklin Resources (NYSE:BEN – Get Free Report) last posted its earnings results on Friday, May 2nd. The closed-end fund reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Franklin Resources had a net margin of 4.32% and a return on equity of 9.45%. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter last year, the company posted $0.56 EPS. Franklin Resources’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, research analysts expect that Franklin Resources will post 2.16 earnings per share for the current year.

Hedge Funds Weigh In On Franklin Resources

A number of hedge funds have recently bought and sold shares of the company. CoreCap Advisors LLC raised its position in shares of Franklin Resources by 147.1% in the 4th quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund’s stock worth $25,000 after acquiring an additional 737 shares in the last quarter. GeoWealth Management LLC boosted its holdings in shares of Franklin Resources by 350.4% during the 4th quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund’s stock worth $26,000 after buying an additional 981 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Franklin Resources by 44.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund’s stock worth $33,000 after buying an additional 505 shares during the period. Headlands Technologies LLC bought a new stake in shares of Franklin Resources in the 4th quarter valued at $34,000. Finally, Principal Securities Inc. lifted its position in shares of Franklin Resources by 561.1% during the 4th quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund’s stock valued at $40,000 after acquiring an additional 1,661 shares during the period. Institutional investors own 47.56% of the company’s stock.

About Franklin Resources

(Get Free Report)

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.

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