Franklin Resources (NYSE:BEN) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Franklin Resources to “Hold” from “Buy.” The broader analyst consensus is also “Hold,” with six Hold, four Buy, and two Sell ratings and an average price target of $33.00.
• Franklin Resources shares opened at $33.05, near the consensus target, with a 52-week range of $21.10 to $36.28 and a market capitalization of approximately $16.79 billion.
• The company reported quarterly earnings of $0.72 per share, beating estimates of $0.66, while revenue rose 14.3% year over year to $2.36 billion. Institutional investors own approximately 47.56% of the company.

Franklin Resources (NYSE:BEN - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other research analysts also recently commented on BEN. Barclays increased their price target on shares of Franklin Resources from $34.00 to $36.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Evercore restated an "underperform" rating and set a $35.00 price objective on shares of Franklin Resources in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $34.00 price objective on shares of Franklin Resources in a research note on Monday, August 3rd. Zacks Research cut Franklin Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Finally, Keefe, Bruyette & Woods started coverage on Franklin Resources in a research report on Wednesday, September 9th. They set a "hold" rating and a $38.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $33.00.

Franklin Resources Trading Down 0.1%

BEN stock opened at $33.05 on Friday. The firm has a fifty day moving average price of $33.71 and a 200 day moving average price of $30.65. Franklin Resources has a fifty-two week low of $21.10 and a fifty-two week high of $36.28. The firm has a market cap of $16.79 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 0.66 and a beta of 1.54. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.48 and a current ratio of 1.48.

Franklin Resources (NYSE:BEN - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, beating the consensus estimate of $0.66 by $0.06. Franklin Resources had a net margin of 8.72% and a return on equity of 11.55%. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the business earned $0.49 earnings per share. Franklin Resources's quarterly revenue was up 14.3% compared to the same quarter last year. Sell-side analysts anticipate that Franklin Resources will post 2.88 earnings per share for the current fiscal year.

Institutional Trading of Franklin Resources

Several institutional investors have recently added to or reduced their stakes in BEN. Y Intercept Hong Kong Ltd bought a new stake in shares of Franklin Resources during the first quarter valued at approximately $6,254,000. Cibc World Market Inc. bought a new stake in Franklin Resources during the 2nd quarter valued at $4,418,000. Deutsche Bank AG bought a new position in shares of Franklin Resources during the 2nd quarter worth $37,742,000. Forty three Eighteen Advisors LLC purchased a new position in shares of Franklin Resources during the first quarter valued at $1,580,000. Finally, Beverly Hills Private Wealth LLC bought a new stake in shares of Franklin Resources in the second quarter valued at about $1,676,000. Institutional investors own 47.56% of the company's stock.

Franklin Resources Company Profile

Franklin Resources, Inc, operating under the Franklin Templeton name, is a global investment management organization. The company provides investment solutions for individual investors, financial professionals, institutions and retirement plans through a broad range of strategies and investment vehicles.

Its offerings include mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investments. Franklin Templeton manages strategies across equities, fixed income, multi-asset portfolios, alternatives and other specialized areas, while also providing investment research, portfolio management and wealth-management services.

Founded in 1947 by Rupert H.

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