Franklin Resources (NYSE:BEN) PT Lowered to $25.50 at TD Cowen

Franklin Resources (NYSE:BEN) had its target price cut by equities research analysts at TD Cowen from $29.00 to $25.50 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the closed-end fund’s stock. TD Cowen’s price target would indicate a potential upside of 11.01% from the company’s current price.

A number of other equities analysts have also weighed in on BEN. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Franklin Resources from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, January 30th. BMO Capital Markets cut their price target on Franklin Resources from $30.00 to $27.00 and set a “market perform” rating for the company in a research note on Tuesday. Wells Fargo & Company raised Franklin Resources from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $24.00 to $30.00 in a report on Monday, January 8th. StockNews.com lowered Franklin Resources from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Morgan Stanley lifted their target price on Franklin Resources from $24.00 to $25.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.40.

Franklin Resources Stock Down 1.8 %

NYSE BEN traded down $0.41 during mid-day trading on Tuesday, reaching $22.97. The stock had a trading volume of 1,538,229 shares, compared to its average volume of 3,652,739. The stock has a market cap of $12.10 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.31 and a beta of 1.40. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.92 and a quick ratio of 1.92. Franklin Resources has a 1 year low of $21.88 and a 1 year high of $30.32. The company has a fifty day moving average price of $26.79 and a 200 day moving average price of $26.37.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Monday, April 29th. The closed-end fund reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Franklin Resources had a net margin of 12.30% and a return on equity of 11.15%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 EPS. On average, research analysts expect that Franklin Resources will post 2.52 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Peoples Bank KS bought a new position in shares of Franklin Resources during the third quarter valued at approximately $25,000. Blue Trust Inc. lifted its holdings in Franklin Resources by 240.5% during the fourth quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund’s stock worth $26,000 after buying an additional 623 shares during the period. Bell Investment Advisors Inc boosted its position in Franklin Resources by 975.5% during the 3rd quarter. Bell Investment Advisors Inc now owns 1,140 shares of the closed-end fund’s stock valued at $28,000 after acquiring an additional 1,034 shares in the last quarter. Creative Financial Designs Inc. ADV purchased a new position in shares of Franklin Resources in the 4th quarter valued at $31,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Franklin Resources by 149.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,111 shares of the closed-end fund’s stock worth $33,000 after acquiring an additional 665 shares in the last quarter. Hedge funds and other institutional investors own 47.56% of the company’s stock.

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.