Franklin Resources Inc. (BEN) Given Average Rating of “Hold” by Brokerages
Shares of Franklin Resources Inc. (NYSE:BEN) have been assigned an average rating of “Hold” from the seventeen research firms that are covering the stock. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $37.94.
A number of analysts have recently commented on the company. Jefferies Group reissued a “hold” rating on shares of Franklin Resources in a research note on Monday, August 1st. Deutsche Bank AG lifted their price objective on Franklin Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research note on Wednesday, October 5th. Credit Suisse Group AG reaffirmed a “sell” rating on shares of Franklin Resources in a research note on Thursday, November 10th. Bank of America Corp. raised Franklin Resources from an “underperform” rating to a “neutral” rating in a research note on Wednesday, November 9th. Finally, Barclays PLC reaffirmed a “sell” rating and issued a $31.00 price objective on shares of Franklin Resources in a research note on Tuesday, October 11th.
Franklin Resources (NYSE:BEN) traded up 0.03% during trading on Tuesday, reaching $38.66. The company’s stock had a trading volume of 706,563 shares. The stock has a market cap of $21.99 billion, a PE ratio of 13.15 and a beta of 1.76. The company’s 50-day moving average is $35.98 and its 200-day moving average is $35.37. Franklin Resources has a 12 month low of $30.56 and a 12 month high of $42.23.
Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Wednesday, October 26th. The closed-end fund reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.13. Franklin Resources had a return on equity of 13.89% and a net margin of 26.09%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was down 14.0% on a year-over-year basis. Equities analysts expect that Franklin Resources will post $2.68 EPS for the current fiscal year.
In other news, Vice Chairman Rupert H. Johnson, Jr. sold 300,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $33.65, for a total transaction of $10,095,000.00. Following the completion of the sale, the insider now owns 104,465,045 shares in the company, valued at $3,515,248,764.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 20.41% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. bought a new stake in shares of Franklin Resources during the second quarter valued at about $31,205,000. Morgan Stanley increased its stake in shares of Franklin Resources by 12.8% in the third quarter. Morgan Stanley now owns 8,049,532 shares of the closed-end fund’s stock valued at $286,321,000 after buying an additional 916,293 shares during the period. Credit Suisse AG increased its stake in shares of Franklin Resources by 44.6% in the third quarter. Credit Suisse AG now owns 2,412,366 shares of the closed-end fund’s stock valued at $85,807,000 after buying an additional 744,390 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Franklin Resources by 1,068.4% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 762,566 shares of the closed-end fund’s stock valued at $25,447,000 after buying an additional 697,300 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Franklin Resources during the second quarter valued at about $20,369,000. Hedge funds and other institutional investors own 46.99% of the company’s stock.
Franklin Resources Company Profile
Franklin Resources, Inc (Franklin), is a holding company. Franklin together with its various subsidiaries (collectively, the Company), is referred to as Franklin Templeton Investments, is a global investment management organization offering investment management and related services under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names.
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