Franklin Resources, Inc. (NYSE:BEN)‘s stock had its “hold” rating restated by Keefe, Bruyette & Woods in a research report issued on Wednesday, November 1st. They currently have a $46.00 price objective on the closed-end fund’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 12.72% from the company’s previous close.
Several other equities analysts have also recently weighed in on BEN. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, October 3rd. BidaskClub cut Franklin Resources from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Deutsche Bank AG lifted their price objective on Franklin Resources from $41.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, July 4th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $44.00 price objective on shares of Franklin Resources in a report on Friday, July 14th. Finally, Wells Fargo & Company cut Franklin Resources from an “outperform” rating to a “market perform” rating and set a $50.00 price target for the company. in a report on Monday, July 24th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.45.
Shares of Franklin Resources (NYSE BEN) traded down $0.32 during midday trading on Wednesday, hitting $40.81. The stock had a trading volume of 1,799,300 shares, compared to its average volume of 2,237,507. The company has a debt-to-equity ratio of 0.11, a current ratio of 9.20 and a quick ratio of 9.20. Franklin Resources has a one year low of $37.44 and a one year high of $47.65. The company has a market cap of $22,823.04, a P/E ratio of 13.71, a P/E/G ratio of 1.41 and a beta of 1.75.
Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.04. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.64 billion. Franklin Resources had a return on equity of 13.60% and a net margin of 26.54%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 EPS. equities analysts predict that Franklin Resources will post 2.92 EPS for the current fiscal year.
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In related news, Chairman Gregory E. Johnson sold 56,825 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $42.83, for a total transaction of $2,433,814.75. Following the sale, the chairman now owns 2,047,273 shares in the company, valued at approximately $87,684,702.59. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 21.60% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in BEN. Conning Inc. raised its stake in shares of Franklin Resources by 0.9% in the second quarter. Conning Inc. now owns 8,696 shares of the closed-end fund’s stock worth $389,000 after purchasing an additional 80 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Franklin Resources by 2.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,244 shares of the closed-end fund’s stock worth $235,000 after purchasing an additional 116 shares during the last quarter. NGAM Advisors L.P. raised its stake in shares of Franklin Resources by 0.6% in the second quarter. NGAM Advisors L.P. now owns 25,308 shares of the closed-end fund’s stock worth $1,134,000 after purchasing an additional 148 shares during the last quarter. Boston Family Office LLC raised its stake in shares of Franklin Resources by 3.0% in the second quarter. Boston Family Office LLC now owns 5,115 shares of the closed-end fund’s stock worth $229,000 after purchasing an additional 150 shares during the last quarter. Finally, Advisor Partners LLC raised its stake in shares of Franklin Resources by 2.1% in the second quarter. Advisor Partners LLC now owns 8,134 shares of the closed-end fund’s stock worth $364,000 after purchasing an additional 168 shares during the last quarter. Institutional investors and hedge funds own 46.01% of the company’s stock.
Franklin Resources Company Profile
Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.
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