Franklin Resources, Inc. (NYSE:BEN) Receives $28.92 Consensus Price Target from Analysts

Franklin Resources, Inc. (NYSE:BEN) has been given an average rating of “Hold” by the fourteen analysts that are presently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $28.92.

BEN has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on Franklin Resources from $31.00 to $28.00 and set an “underweight” rating on the stock in a report on Tuesday, October 8th. JPMorgan Chase & Co. upgraded Franklin Resources from an “underweight” rating to a “neutral” rating and set a $32.00 target price for the company in a report on Thursday, September 12th. BMO Capital Markets assumed coverage on Franklin Resources in a report on Monday, October 7th. They issued an “underperform” rating and a $16.00 target price for the company. Evercore ISI reaffirmed a “sell” rating and set a $25.00 target price on shares of Franklin Resources in a research report on Wednesday, November 13th. Finally, Barclays reiterated a “sell” rating and set a $24.00 price target on shares of Franklin Resources in a report on Wednesday, October 9th.

In related news, EVP Craig Steven Tyle sold 5,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $27.57, for a total transaction of $137,850.00. Following the completion of the transaction, the executive vice president now owns 113,793 shares of the company’s stock, valued at approximately $3,137,273.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Franklin Resources by 15.2% in the 2nd quarter. Vanguard Group Inc. now owns 37,527,041 shares of the closed-end fund’s stock valued at $1,305,941,000 after purchasing an additional 4,944,487 shares during the period. APG Asset Management N.V. lifted its stake in shares of Franklin Resources by 46.9% in the second quarter. APG Asset Management N.V. now owns 6,018,027 shares of the closed-end fund’s stock valued at $183,902,000 after buying an additional 1,920,900 shares during the period. Northern Trust Corp lifted its stake in shares of Franklin Resources by 0.5% in the second quarter. Northern Trust Corp now owns 4,270,065 shares of the closed-end fund’s stock valued at $148,598,000 after buying an additional 20,983 shares during the period. First Trust Advisors LP lifted its stake in shares of Franklin Resources by 123.3% in the third quarter. First Trust Advisors LP now owns 4,035,455 shares of the closed-end fund’s stock valued at $116,463,000 after buying an additional 2,228,215 shares during the period. Finally, Schroder Investment Management Group grew its position in Franklin Resources by 17.6% during the second quarter. Schroder Investment Management Group now owns 3,003,248 shares of the closed-end fund’s stock worth $104,513,000 after buying an additional 450,309 shares in the last quarter. Institutional investors and hedge funds own 48.68% of the company’s stock.

Shares of NYSE:BEN opened at $27.00 on Friday. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $13.45 billion, a PE ratio of 10.71, a P/E/G ratio of 1.51 and a beta of 1.21. Franklin Resources has a 1 year low of $25.57 and a 1 year high of $35.82. The firm has a fifty day moving average price of $27.69 and a 200 day moving average price of $30.19.

Franklin Resources (NYSE:BEN) last posted its earnings results on Friday, October 25th. The closed-end fund reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.03). Franklin Resources had a net margin of 20.71% and a return on equity of 12.28%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the business earned $0.96 earnings per share. Franklin Resources’s quarterly revenue was down 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Franklin Resources will post 2.56 earnings per share for the current fiscal year.

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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Analyst Recommendations for Franklin Resources (NYSE:BEN)

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