Franklin Resources, Inc. (NYSE:BEN)‘s stock had its “hold” rating reiterated by equities research analysts at Keefe, Bruyette & Woods in a report issued on Thursday. They currently have a $47.00 price target on the closed-end fund’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 4.61% from the stock’s previous close.
A number of other research firms also recently weighed in on BEN. BidaskClub raised shares of Franklin Resources from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research downgraded shares of Franklin Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company downgraded shares of Franklin Resources from an “outperform” rating to a “market perform” rating and set a $50.00 price target on the stock. in a research note on Monday, July 24th. Barclays PLC started coverage on shares of Franklin Resources in a research note on Friday, September 8th. They issued an “underweight” rating and a $40.00 price target on the stock. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $44.00 price target on shares of Franklin Resources in a research note on Friday, July 14th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $44.36.
Franklin Resources (NYSE:BEN) opened at 44.93 on Thursday. The company has a 50-day moving average price of $43.16 and a 200-day moving average price of $43.31. Franklin Resources has a one year low of $33.02 and a one year high of $47.65. The firm has a market cap of $25.06 billion, a PE ratio of 14.62 and a beta of 1.72.
Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Friday, July 28th. The closed-end fund reported $0.73 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.73. Franklin Resources had a net margin of 27.30% and a return on equity of 13.96%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the business posted $0.77 earnings per share. Franklin Resources’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities analysts predict that Franklin Resources will post $2.96 earnings per share for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its holdings in Franklin Resources by 16.1% during the second quarter. IFP Advisors Inc now owns 2,685 shares of the closed-end fund’s stock valued at $120,000 after acquiring an additional 372 shares during the period. Mountain Capital Investment Advisors Inc bought a new stake in Franklin Resources during the second quarter valued at about $123,000. Global X Management Co. LLC boosted its holdings in Franklin Resources by 7.9% during the first quarter. Global X Management Co. LLC now owns 4,589 shares of the closed-end fund’s stock valued at $193,000 after acquiring an additional 337 shares during the period. Investment Centers of America Inc. bought a new stake in Franklin Resources during the first quarter valued at about $201,000. Finally, Van ECK Associates Corp boosted its holdings in Franklin Resources by 6.0% during the first quarter. Van ECK Associates Corp now owns 4,847 shares of the closed-end fund’s stock valued at $204,000 after acquiring an additional 276 shares during the period. Institutional investors own 44.96% of the company’s stock.
About Franklin Resources
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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