Franklin Resources (BEN) Lifted to Sell at ValuEngine

ValuEngine upgraded shares of Franklin Resources (NYSE:BEN) from a strong sell rating to a sell rating in a research note published on Tuesday.

Other research analysts have also issued reports about the stock. Wells Fargo & Co lowered their price objective on shares of Franklin Resources from $35.00 to $34.00 and set a market perform rating on the stock in a research note on Monday, July 30th. Zacks Investment Research upgraded shares of Franklin Resources from a strong sell rating to a hold rating in a research note on Friday, August 24th. Deutsche Bank lowered their price objective on shares of Franklin Resources from $33.00 to $32.00 and set a hold rating on the stock in a research note on Thursday, August 16th. Credit Suisse Group lowered their price objective on shares of Franklin Resources from $28.00 to $26.00 and set an underperform rating on the stock in a research note on Friday, October 26th. Finally, Morgan Stanley decreased their price target on shares of Franklin Resources from $32.00 to $30.00 and set an underweight rating on the stock in a research note on Thursday, August 2nd. Six research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The stock has an average rating of Hold and an average price target of $34.18.

Franklin Resources stock opened at $32.27 on Tuesday. The stock has a market cap of $16.56 billion, a PE ratio of 10.12, a PEG ratio of 1.12 and a beta of 1.28. Franklin Resources has a fifty-two week low of $28.12 and a fifty-two week high of $45.96. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.07.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Thursday, October 25th. The closed-end fund reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.39. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Franklin Resources had a net margin of 12.10% and a return on equity of 16.26%. Research analysts expect that Franklin Resources will post 2.88 EPS for the current fiscal year.

In related news, EVP Craig Steven Tyle sold 11,165 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $31.35, for a total value of $350,022.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jed A. Plafker sold 4,820 shares of the company’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $32.85, for a total transaction of $158,337.00. Following the completion of the transaction, the insider now owns 56,369 shares in the company, valued at approximately $1,851,721.65. The disclosure for this sale can be found here. 22.20% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in BEN. Squar Milner Financial Services LLC acquired a new position in shares of Franklin Resources during the 3rd quarter worth approximately $100,000. Captrust Financial Advisors grew its position in shares of Franklin Resources by 605.1% during the 2nd quarter. Captrust Financial Advisors now owns 3,187 shares of the closed-end fund’s stock worth $103,000 after purchasing an additional 2,735 shares in the last quarter. Focused Wealth Management Inc acquired a new position in shares of Franklin Resources during the 2nd quarter worth approximately $131,000. Steward Partners Investment Advisory LLC grew its position in shares of Franklin Resources by 196.4% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 4,301 shares of the closed-end fund’s stock worth $131,000 after purchasing an additional 2,850 shares in the last quarter. Finally, Dupont Capital Management Corp grew its position in shares of Franklin Resources by 61.2% during the 2nd quarter. Dupont Capital Management Corp now owns 4,168 shares of the closed-end fund’s stock worth $134,000 after purchasing an additional 1,582 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

About Franklin Resources

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.

Further Reading: What do investors mean by earnings per share?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Franklin Resources (NYSE:BEN)

Receive News & Ratings for Franklin Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply