Franklin Resources (NYSE:BEN) had its price target upped by equities research analysts at Citigroup from $35.00 to $37.00 in a note issued to investors on Tuesday, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the closed-end fund’s stock. Citigroup‘s price objective would suggest a potential upside of 6.23% from the stock’s current price.
Other equities research analysts have also issued reports about the company. TheStreet upgraded Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Friday, April 26th. Keefe, Bruyette & Woods downgraded Franklin Resources from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $34.00 to $33.00 in a research report on Monday, April 29th. Bank of America set a $180.00 target price on CME Group and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Finally, Zacks Investment Research raised IMI PLC/S from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Seven research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $30.71.
NYSE:BEN traded up $0.05 on Tuesday, hitting $34.83. 2,093,042 shares of the stock were exchanged, compared to its average volume of 2,743,075. The stock has a market capitalization of $17.91 billion, a PE ratio of 10.94, a PEG ratio of 1.96 and a beta of 1.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.54 and a current ratio of 3.54. The business has a fifty day moving average of $33.80. Franklin Resources has a fifty-two week low of $27.34 and a fifty-two week high of $35.82.
In related news, EVP Craig Steven Tyle sold 10,924 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $32.04, for a total value of $350,004.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 23.90% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp lifted its holdings in Franklin Resources by 6.0% during the 4th quarter. Northern Trust Corp now owns 4,225,018 shares of the closed-end fund’s stock worth $125,314,000 after buying an additional 239,848 shares during the last quarter. MML Investors Services LLC acquired a new stake in shares of Franklin Resources during the 4th quarter worth approximately $226,000. One Wealth Advisors LLC acquired a new stake in shares of Franklin Resources during the 4th quarter worth approximately $273,000. BLB&B Advisors LLC raised its position in shares of Franklin Resources by 5.4% during the 1st quarter. BLB&B Advisors LLC now owns 9,265 shares of the closed-end fund’s stock worth $307,000 after purchasing an additional 475 shares during the period. Finally, S&CO Inc. acquired a new stake in shares of Franklin Resources during the 1st quarter worth approximately $3,116,000. 48.48% of the stock is owned by hedge funds and other institutional investors.
Franklin Resources Company Profile
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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