Franklin Resources (NYSE:BEN) Price Target Raised to $21.50

by · The Cerbat Gem

Franklin Resources (NYSE:BEN – Get Free Report) had its price target hoisted by research analysts at The Goldman Sachs Group from $19.00 to $21.50 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the closed-end fund’s stock. The Goldman Sachs Group’s price target points to a potential upside of 6.88% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. UBS Group raised their target price on shares of Franklin Resources from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Evercore ISI cut their target price on Franklin Resources from $19.00 to $17.00 and set an “underperform” rating on the stock in a research note on Friday, April 11th. BMO Capital Markets upped their price target on Franklin Resources from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Barclays lifted their price objective on Franklin Resources from $17.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday. Finally, Bank of America decreased their target price on Franklin Resources from $20.00 to $17.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Five investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.46.

View Our Latest Research Report on Franklin Resources

Franklin Resources Trading Up 0.3 %

Shares of BEN traded up $0.06 during mid-day trading on Monday, reaching $20.12. The company’s stock had a trading volume of 1,383,653 shares, compared to its average volume of 4,259,948. 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 has a 52 week low of $16.25 and a 52 week high of $24.86. The company’s fifty day moving average price is $18.96 and its two-hundred day moving average price is $20.19. The stock has a market cap of $10.57 billion, a PE ratio of 30.96, a P/E/G ratio of 2.31 and a beta of 1.39.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BEN. Vanguard Group Inc. increased its holdings in shares of Franklin Resources by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 37,715,809 shares of the closed-end fund’s stock valued at $765,254,000 after acquiring an additional 1,095,373 shares in the last quarter. Invesco Ltd. raised its holdings in Franklin Resources by 9.4% in the fourth quarter. Invesco Ltd. now owns 11,721,446 shares of the closed-end fund’s stock worth $237,828,000 after buying an additional 1,011,755 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Franklin Resources by 19.6% during the fourth quarter. ProShare Advisors LLC now owns 9,403,875 shares of the closed-end fund’s stock valued at $190,805,000 after buying an additional 1,542,478 shares during the last quarter. First Trust Advisors LP lifted its position in Franklin Resources by 33.1% in the 4th quarter. First Trust Advisors LP now owns 6,438,863 shares of the closed-end fund’s stock valued at $130,645,000 after acquiring an additional 1,599,849 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Franklin Resources by 8.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,002,950 shares of the closed-end fund’s stock worth $121,797,000 after purchasing an additional 460,270 shares in the last quarter. Hedge funds and other institutional investors own 47.56% of the company’s stock.

Franklin Resources Company Profile

(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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