Franklin Resources (NYSE:BEN) Stock Rating Upgraded by The Goldman Sachs Group

Franklin Resources (NYSE:BEN) was upgraded by investment analysts at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a report issued on Monday,Briefing.com Automated Import reports. The brokerage currently has a $22.00 target price on the closed-end fund’s stock, up from their prior target price of $21.00. The Goldman Sachs Group’s price target points to a potential upside of 7.79% from the company’s previous close.

A number of other analysts have also commented on the company. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $19.00 price target (down from $20.00) on shares of Franklin Resources in a report on Tuesday, November 5th. StockNews.com raised shares of Franklin Resources from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Barclays raised their price objective on shares of Franklin Resources from $19.00 to $21.00 and gave the stock an “underweight” rating in a report on Monday, December 9th. Morgan Stanley increased their target price on shares of Franklin Resources from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company lifted their price target on shares of Franklin Resources from $19.50 to $22.50 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.73.

Franklin Resources Stock Performance

Shares of BEN stock opened at $20.41 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a 50-day moving average of $21.42 and a 200-day moving average of $21.36. Franklin Resources has a one year low of $18.94 and a one year high of $29.41. The company has a market cap of $10.69 billion, a P/E ratio of 23.73, a P/E/G ratio of 2.38 and a beta of 1.41.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Monday, November 4th. The closed-end fund reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). Franklin Resources had a net margin of 5.48% and a return on equity of 9.62%. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the business posted $0.84 EPS. The company’s quarterly revenue was up 11.3% on a year-over-year basis. Equities research analysts forecast that Franklin Resources will post 2.39 EPS for the current fiscal year.

Insider Activity

In other news, insider Franklin Resources Inc sold 7,657 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $43.90, for a total value of $336,142.30. Following the completion of the transaction, the insider now directly owns 65,862 shares in the company, valued at approximately $2,891,341.80. This trade represents a 10.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 24,024 shares of company stock worth $1,051,375. 22.90% of the stock is owned by corporate insiders.

Institutional Trading of Franklin Resources

Several institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Franklin Resources in the third quarter worth $880,000. FORA Capital LLC bought a new position in Franklin Resources in the 3rd quarter worth about $1,857,000. Principal Financial Group Inc. raised its holdings in shares of Franklin Resources by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 381,192 shares of the closed-end fund’s stock valued at $7,681,000 after acquiring an additional 32,490 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Franklin Resources by 44.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,998,574 shares of the closed-end fund’s stock valued at $60,421,000 after acquiring an additional 925,590 shares during the last quarter. Finally, Swedbank AB grew its holdings in shares of Franklin Resources by 78.3% during the third quarter. Swedbank AB now owns 62,076 shares of the closed-end fund’s stock worth $1,251,000 after purchasing an additional 27,259 shares in the last quarter. 47.56% of the stock is currently owned by hedge funds and other institutional investors.

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.