Franklin Resources, Inc. (NYSE:BEN) has earned an average rating of “Hold” from the fourteen analysts that are covering the company, MarketBeat reports. Seven analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $28.92.

A number of brokerages recently issued reports on BEN. BMO Capital Markets began coverage on Franklin Resources in a research report on Monday, October 7th. They issued an “underperform” rating and a $16.00 target price on the stock. TheStreet lowered Franklin Resources from a “b-” rating to a “c+” rating in a research report on Friday, August 9th. Barclays reissued a “sell” rating and issued a $24.00 target price on shares of Franklin Resources in a research report on Wednesday, October 9th. Evercore ISI reissued a “sell” rating and issued a $25.00 target price on shares of Franklin Resources in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised Franklin Resources from an “underweight” rating to a “neutral” rating and set a $32.00 target price on the stock in a research report on Thursday, September 12th.

In other Franklin Resources news, EVP Craig Steven Tyle sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $26.01, for a total value of $130,050.00. Following the completion of the transaction, the executive vice president now directly owns 100,009 shares in the company, valued at $2,601,234.09. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.20% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC grew its stake in Franklin Resources by 232.6% in the second quarter. Advisory Services Network LLC now owns 725 shares of the closed-end fund’s stock valued at $25,000 after purchasing an additional 507 shares in the last quarter. Rational Advisors LLC boosted its stake in shares of Franklin Resources by 5,760.0% during the 2nd quarter. Rational Advisors LLC now owns 879 shares of the closed-end fund’s stock worth $31,000 after acquiring an additional 864 shares during the period. Smith Asset Management Group LP bought a new position in shares of Franklin Resources during the 2nd quarter worth approximately $32,000. Liberty Wealth Management LLC boosted its stake in shares of Franklin Resources by 3,680.0% during the 2nd quarter. Liberty Wealth Management LLC now owns 1,134 shares of the closed-end fund’s stock worth $39,000 after acquiring an additional 1,104 shares during the period. Finally, TRUE Private Wealth Advisors bought a new position in shares of Franklin Resources during the 2nd quarter worth approximately $43,000. Hedge funds and other institutional investors own 49.79% of the company’s stock.

Franklin Resources stock traded down $0.07 during midday trading on Monday, reaching $27.23. The stock had a trading volume of 2,519,970 shares, compared to its average volume of 2,970,011. The firm’s fifty day simple moving average is $27.77 and its 200-day simple moving average is $30.93. Franklin Resources has a 1-year low of $25.57 and a 1-year high of $35.82. The stock has a market capitalization of $13.74 billion, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.35 and a current ratio of 3.35.

Franklin Resources (NYSE:BEN) last announced its earnings results on Friday, October 25th. The closed-end fund reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.03). Franklin Resources had a net margin of 20.71% and a return on equity of 12.35%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business posted $0.96 EPS. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Franklin Resources will post 2.6 earnings per share for the current fiscal year.

About Franklin Resources

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.

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Analyst Recommendations for Franklin Resources (NYSE:BEN)

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