Franklin Resources (NYSE:BEN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Franklin Resources (NYSE:BEN) had its target price boosted by analysts at JPMorgan Chase & Co. from $34.00 to $35.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the closed-end fund’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 10.29% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen raised shares of Franklin Resources from a “hold” rating to a “buy” rating in a report on Sunday, September 27th. Barclays increased their price target on shares of Franklin Resources from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. UBS Group assumed coverage on shares of Franklin Resources in a research report on Wednesday, October 7th. They set a “buy” rating and a $40.00 price objective on the stock. Evercore restated an “underperform” rating and issued a $35.00 price objective on shares of Franklin Resources in a research note on Friday, July 10th. Finally, TD Cowen dropped their price objective on shares of Franklin Resources from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.11.

Franklin Resources Stock Performance

NYSE BEN traded down $0.27 on Monday, reaching $31.73. The stock had a trading volume of 853,625 shares, compared to its average volume of 4,772,443. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.48 and a current ratio of 1.48. Franklin Resources has a 12-month low of $21.10 and a 12-month high of $36.28. The business’s 50-day moving average price is $33.63 and its 200 day moving average price is $31.49. The stock has a market cap of $16.12 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 0.56 and a beta of 1.54.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.06. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $1.76 billion. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 earnings per share. As a group, equities analysts expect that Franklin Resources will post 2.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Community Trust NA purchased a new stake in shares of Franklin Resources during the third quarter worth approximately $25,000. Compass Financial Management LLC purchased a new position in Franklin Resources in the 2nd quarter valued at $36,000. Armstrong Advisory Group Inc. purchased a new position in Franklin Resources in the 3rd quarter valued at $35,000. Elevation Wealth Partners LLC grew its position in Franklin Resources by 179.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,181 shares of the closed-end fund’s stock valued at $39,000 after buying an additional 758 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Franklin Resources by 209.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the closed-end fund’s stock valued at $39,000 after buying an additional 813 shares during the period. 47.56% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Resources Company Profile

Franklin Resources, Inc, operating under the Franklin Templeton brand, is a global investment management organization. The company provides investment solutions for individual investors, financial professionals, institutions and retirement-plan participants through a range of actively managed and specialized strategies.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investment strategies. Franklin Templeton offers capabilities spanning equities, fixed income, multi-asset investing, private markets and other specialized areas, with investment teams and brands serving different market segments and regions.

Founded in 1947 by Rupert H.