TD Cowen Increases Franklin Resources (NYSE:BEN) Price Target to $40.00

Franklin Resources (NYSE:BEN) had its price target boosted by equities research analysts at TD Cowen from $37.00 to $40.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the closed-end fund’s stock. TD Cowen’s price target points to a potential upside of 16.77% from the stock’s current price.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Franklin Resources from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Weiss Ratings raised shares of Franklin Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Wall Street Zen raised Franklin Resources from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Barclays set a $31.00 price target on Franklin Resources and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Finally, Evercore reissued an “underperform” rating and issued a $32.00 price objective on shares of Franklin Resources in a research report on Monday, June 8th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Franklin Resources currently has an average rating of “Hold” and a consensus target price of $30.33.

Franklin Resources Price Performance

Franklin Resources stock traded up $1.21 on Monday, reaching $34.26. The company’s stock had a trading volume of 2,421,581 shares, compared to its average volume of 5,202,860. The business’s fifty day moving average price is $30.19 and its 200 day moving average price is $26.89. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.87 and a current ratio of 1.87. The company has a market cap of $17.80 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 0.87 and a beta of 1.55. Franklin Resources has a twelve month low of $21.10 and a twelve month high of $34.42.

Franklin Resources (NYSE:BEN) last released its quarterly earnings results on Tuesday, April 28th. The closed-end fund reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.16. Franklin Resources had a return on equity of 10.58% and a net margin of 8.12%.The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts expect that Franklin Resources will post 2.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Franklin Resources

A number of large investors have recently made changes to their positions in the company. Mariner LLC boosted its stake in shares of Franklin Resources by 0.7% in the 4th quarter. Mariner LLC now owns 56,151 shares of the closed-end fund’s stock valued at $1,341,000 after purchasing an additional 377 shares in the last quarter. Lido Advisors LLC boosted its position in Franklin Resources by 4.0% in the first quarter. Lido Advisors LLC now owns 10,194 shares of the closed-end fund’s stock valued at $244,000 after buying an additional 395 shares in the last quarter. Zions Bancorporation National Association UT grew its stake in shares of Franklin Resources by 35.5% during the fourth quarter. Zions Bancorporation National Association UT now owns 1,512 shares of the closed-end fund’s stock worth $36,000 after buying an additional 396 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Franklin Resources by 4.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,751 shares of the closed-end fund’s stock worth $233,000 after buying an additional 397 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Franklin Resources by 12.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,671 shares of the closed-end fund’s stock valued at $87,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 47.56% of the company’s stock.

Franklin Resources Company Profile

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.