Franklin Resources (NYSE:BEN) Upgraded by StockNews.com to “Hold” Rating

Franklin Resources (NYSE:BEN) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other brokerages also recently commented on BEN. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $19.00 target price (down from $20.00) on shares of Franklin Resources in a research note on Tuesday, November 5th. Barclays reduced their target price on Franklin Resources from $20.00 to $19.00 and set an “underweight” rating for the company in a research note on Monday, October 14th. Evercore ISI reduced their target price on Franklin Resources from $20.00 to $19.00 and set an “underperform” rating for the company in a research note on Friday, October 4th. Morgan Stanley reduced 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. Finally, The Goldman Sachs Group reduced their target price on Franklin Resources from $23.75 to $21.25 and set a “sell” rating for the company in a research note on Monday, September 30th. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.20.

Franklin Resources Stock Up 0.3 %

NYSE:BEN opened at $21.53 on Thursday. The firm has a market capitalization of $11.26 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 2.32 and a beta of 1.38. Franklin Resources has a twelve month low of $18.94 and a twelve month high of $30.32. The stock’s 50 day moving average price is $20.35 and its two-hundred day moving average price is $21.82. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.93.

Franklin Resources (NYSE:BEN) last posted its quarterly 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). Franklin Resources had a return on equity of 9.61% and a net margin of 5.48%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities research analysts expect that Franklin Resources will post 2.4 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Franklin Resources Inc sold 7,900 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $43.71, for a total transaction of $345,309.00. Following the completion of the sale, the insider now directly owns 36,519 shares in the company, valued at approximately $1,596,245.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Franklin Resources Inc sold 7,900 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $43.71, for a total transaction of $345,309.00. Following the completion of the transaction, the insider now owns 36,519 shares of the company’s stock, valued at approximately $1,596,245.49. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Charles B. Johnson purchased 100,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were acquired at an average cost of $19.84 per share, with a total value of $1,984,000.00. Following the acquisition, the insider now directly owns 89,208,192 shares in the company, valued at $1,769,890,529.28. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 231,600 shares of company stock worth $4,537,637 and sold 24,024 shares worth $1,051,375. Corporate insiders own 24.13% of the company’s stock.

Hedge Funds Weigh In On Franklin Resources

Institutional investors have recently modified their holdings of the business. MFA Wealth Advisors LLC acquired a new position in Franklin Resources in the 3rd quarter worth about $26,000. Altshuler Shaham Ltd acquired a new position in Franklin Resources in the 2nd quarter worth about $27,000. Matrix Trust Co acquired a new position in Franklin Resources in the 3rd quarter worth about $29,000. Sentry Investment Management LLC acquired a new position in Franklin Resources in the 2nd quarter worth about $30,000. Finally, Headlands Technologies LLC acquired a new position in Franklin Resources in the 1st quarter worth about $32,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

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.