Franklin Resources (NYSE:BEN) Now Covered by Analysts at UBS Group

Key Points

• UBS Group initiated coverage of Franklin Resources with a “buy” rating and a $40 price target, implying roughly 24% upside from the stock’s reported $32.26 price.
• Analyst sentiment remains mixed overall: four analysts rate the stock a buy, six a hold and one a sell, producing an average “hold” rating and a consensus price target of $35.89.
• Franklin Resources recently exceeded quarterly expectations, reporting $0.72 in earnings per share versus a $0.66 consensus estimate and $2.36 billion in revenue, up 14.3% year over year.

Investment analysts at UBS Group initiated coverage on shares of Franklin Resources (NYSE:BEN - Get Free Report) in a research note issued to investors on Wednesday. The brokerage set a "buy" rating and a $40.00 price target on the closed-end fund's stock. UBS Group's price target points to a potential upside of 24.01% from the company's current price.

A number of other equities analysts have also commented on BEN. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $34.00 price target on shares of Franklin Resources in a report on Monday, August 3rd. Barclays upped their target price on shares of Franklin Resources from $34.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods assumed coverage on Franklin Resources in a research note on Wednesday, September 9th. They issued a "hold" rating and a $38.00 target price on the stock. Evercore reaffirmed an "underperform" rating and set a $35.00 price target on shares of Franklin Resources in a research note on Friday, July 10th. Finally, Wall Street Zen upgraded Franklin Resources from a "hold" rating to a "buy" rating in a report on Sunday, September 27th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $35.89.

Franklin Resources Price Performance

Shares of BEN traded down $0.18 during trading hours on Wednesday, reaching $32.26. 175,597 shares of the company's stock traded hands, compared to its average volume of 4,769,394. Franklin Resources has a 12 month low of $21.10 and a 12 month high of $36.28. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.22. The stock has a market cap of $16.39 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54. The firm's 50 day simple moving average is $33.69 and its 200-day simple moving average is $31.31.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 earnings per share for the quarter, topping 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 company had revenue of $2.36 billion for the quarter, compared to analysts' expectations of $1.76 billion. During the same period in the prior year, the business earned $0.49 earnings per share. Franklin Resources's revenue for the quarter was up 14.3% compared to the same quarter last year. Equities analysts expect that Franklin Resources will post 2.9 EPS for the current year.

Institutional Trading of Franklin Resources

Several institutional investors have recently added to or reduced their stakes in BEN. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Franklin Resources by 209.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the closed-end fund's stock valued at $39,000 after acquiring an additional 813 shares during the last quarter. Versant Capital Management Inc grew its position in Franklin Resources by 7.4% during the 3rd quarter. Versant Capital Management Inc now owns 7,059 shares of the closed-end fund's stock worth $227,000 after acquiring an additional 487 shares during the last quarter. Greenwich Wealth Management LLC increased its stake in Franklin Resources by 0.3% in the 2nd quarter. Greenwich Wealth Management LLC now owns 143,825 shares of the closed-end fund's stock worth $4,785,000 after purchasing an additional 389 shares during the period. QRG Capital Management Inc. purchased a new position in Franklin Resources in the 2nd quarter worth approximately $304,000. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Franklin Resources by 7.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 546,393 shares of the closed-end fund's stock valued at $18,178,000 after purchasing an additional 38,122 shares during 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, operating under the Franklin Templeton brand, is a global investment management organization. The company provides investment solutions for individual investors, financial professionals, institutions and retirement-plan participants through a range of actively managed and specialized strategies.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investment strategies. Franklin Templeton offers capabilities spanning equities, fixed income, multi-asset investing, private markets and other specialized areas, with investment teams and brands serving different market segments and regions.

Founded in 1947 by Rupert H.

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