Franklin Resources (NYSE:BEN) Stock Price Expected to Rise, Barclays Analyst Says

Franklin Resources (NYSE:BEN) had its price target lifted by equities researchers at Barclays from $19.00 to $21.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the closed-end fund’s stock. Barclays‘s price objective would suggest a potential downside of 4.20% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. StockNews.com raised Franklin Resources from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $19.00 target price (down previously from $20.00) on shares of Franklin Resources in a report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price target on shares of Franklin Resources from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on Franklin Resources from $19.00 to $19.50 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley decreased their target price on Franklin Resources from $21.00 to $19.00 and set an “underweight” rating for the company in a research note on Friday, October 18th. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.39.

Franklin Resources Stock Down 2.1 %

Franklin Resources stock opened at $21.92 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.92. Franklin Resources has a 1-year low of $18.94 and a 1-year high of $30.32. The firm’s fifty day simple moving average is $21.06 and its 200-day simple moving average is $21.62. The company has a market capitalization of $11.48 billion, a P/E ratio of 25.49, a P/E/G ratio of 2.38 and a beta of 1.39.

Franklin Resources (NYSE:BEN) last posted its earnings results on Monday, November 4th. The closed-end fund reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $1.70 billion. Franklin Resources had a net margin of 5.48% and a return on equity of 9.62%. Franklin Resources’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business earned $0.84 earnings per share. Sell-side analysts forecast that Franklin Resources will post 2.39 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Franklin Resources Inc sold 8,467 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $43.69, for a total value of $369,923.23. Following the sale, the insider now directly owns 51,019 shares in the company, valued at approximately $2,229,020.11. This represents a 14.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Charles B. Johnson bought 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were bought at an average price of $19.08 per share, with a total value of $1,908,000.00. Following the transaction, the insider now directly owns 89,308,192 shares in the company, valued at $1,704,000,303.36. This trade represents a 0.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 24,024 shares of company stock worth $1,051,375. Company insiders own 24.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BEN. Interval Partners LP increased its position in shares of Franklin Resources by 0.4% during the 2nd quarter. Interval Partners LP now owns 108,894 shares of the closed-end fund’s stock worth $2,434,000 after purchasing an additional 483 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Franklin Resources by 0.8% in the third quarter. PNC Financial Services Group Inc. now owns 69,585 shares of the closed-end fund’s stock valued at $1,402,000 after acquiring an additional 572 shares during the last quarter. State of Michigan Retirement System boosted its holdings in shares of Franklin Resources by 0.7% in the 2nd quarter. State of Michigan Retirement System now owns 88,195 shares of the closed-end fund’s stock worth $1,971,000 after acquiring an additional 600 shares in the last quarter. Anchor Investment Management LLC grew its position in Franklin Resources by 30.2% during the 3rd quarter. Anchor Investment Management LLC now owns 2,604 shares of the closed-end fund’s stock worth $52,000 after acquiring an additional 604 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its position in Franklin Resources by 3.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 19,485 shares of the closed-end fund’s stock valued at $393,000 after purchasing an additional 609 shares during the last quarter. 47.56% of the stock is owned by 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.