Franklin Resources (NYSE:BEN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised Franklin Resources’ price target from $34 to $35 while maintaining a neutral rating, implying 10.29% upside from the prior close.
• Analyst sentiment remains mixed, with an overall consensus rating of Hold and an average price target of $36.11; ratings include four Buys, six Holds and one Sell.
• Franklin Resources shares fell 0.8% to $31.73, while the company’s latest quarter exceeded expectations with $0.72 in EPS and $2.36 billion in revenue, up 14.3% year over year.

Franklin Resources (NYSE:BEN - Get Free Report) had its price target boosted by equities researchers at JPMorgan Chase & Co. from $34.00 to $35.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the closed-end fund's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 10.29% from the company's previous close.

A number of other equities research analysts also recently issued reports on BEN. Weiss Ratings reissued a "buy (b-)" rating on shares of Franklin Resources in a research note on Monday, August 31st. Zacks Research cut shares of Franklin Resources from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. UBS Group began coverage on shares of Franklin Resources in a report on Wednesday, October 7th. They issued a "buy" rating and a $40.00 target price for the company. Morgan Stanley boosted their target price on Franklin Resources from $34.00 to $35.00 and gave the company an "equal weight" rating in a research report on Friday, September 25th. Finally, Barclays boosted their target price on Franklin Resources from $34.00 to $36.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $36.11.

Franklin Resources Trading Down 0.8%

BEN traded down $0.27 on Monday, hitting $31.73. The company had a trading volume of 853,625 shares, compared to its average volume of 4,772,443. The firm has a market cap of $16.12 billion, a P/E ratio of 21.62, a PEG ratio of 0.56 and a beta of 1.54. Franklin Resources has a 1 year low of $21.10 and a 1 year high of $36.28. The company's fifty day moving average price is $33.63 and its 200 day moving average price is $31.49. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.22.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its earnings results on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, beating analysts' consensus estimates 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 quarter in the prior year, the company posted $0.49 earnings per share. Franklin Resources's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities analysts expect that Franklin Resources will post 2.91 earnings per share for the current year.

Institutional Investors Weigh In On Franklin Resources

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Franklin Resources in the 2nd quarter valued at $961,845,000. Azora Capital LP acquired a new stake in Franklin Resources during the 2nd quarter worth $229,850,000. Bank of New York Mellon Corp acquired a new stake in Franklin Resources during the 2nd quarter worth $152,692,000. Squarepoint Ops LLC lifted its position in Franklin Resources by 188.2% in the fourth quarter. Squarepoint Ops LLC now owns 4,131,559 shares of the closed-end fund's stock valued at $98,703,000 after acquiring an additional 2,697,743 shares during the last quarter. Finally, Kopernik Global Investors LLC lifted its position in Franklin Resources by 4.6% in the first quarter. Kopernik Global Investors LLC now owns 3,522,587 shares of the closed-end fund's stock valued at $83,204,000 after acquiring an additional 153,422 shares during the last quarter. 47.56% of the stock is currently owned by institutional investors and hedge funds.

About Franklin Resources

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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