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

Key Points

• Franklin Resources was downgraded from “buy” to “hold” by Wall Street Zen. The broader analyst consensus is also “Hold,” with four Buy, six Hold, and one Sell rating and an average price target of $35.89.
• BEN shares opened at $31.66, below their 50-day moving average of $32.78, while trading within a 12-month range of $21.10 to $36.28.
• Franklin Resources exceeded quarterly expectations, reporting $0.72 in earnings per share versus the $0.66 estimate and $2.36 billion in revenue, up 14.3% year over year.

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

A number of other equities analysts have also recently weighed in on BEN. Zacks Research cut shares of Franklin Resources from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Keefe, Bruyette & Woods assumed coverage on shares of Franklin Resources in a research report on Wednesday, September 9th. They issued a "hold" rating and a $38.00 target price on the stock. UBS Group started coverage on shares of Franklin Resources in a research note on Wednesday, October 7th. They set a "buy" rating and a $40.00 target price for the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $34.00 price target on shares of Franklin Resources in a research report on Monday, August 3rd. Finally, Morgan Stanley raised their price target on shares of Franklin Resources from $34.00 to $35.00 and gave the company an "equal weight" rating in a research note on Friday, September 25th. 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 stock. According to data from MarketBeat, Franklin Resources presently has a consensus rating of "Hold" and an average price target of $35.89.

Franklin Resources Stock Down 2.1%

Shares of BEN opened at $31.66 on Friday. 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 has a 12 month low of $21.10 and a 12 month high of $36.28. The stock's 50 day moving average is $32.78 and its two-hundred day moving average is $30.20. The firm has a market cap of $16.09 billion, a P/E ratio of 11.55, a PEG ratio of 0.58 and a beta of 1.54.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $2.36 billion during the quarter, compared to analysts' expectations of $1.76 billion. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%. The business's revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. Analysts predict that Franklin Resources will post 2.91 earnings per share for the current fiscal year.

Institutional Trading of Franklin Resources

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Franklin Resources during the 2nd quarter worth approximately $961,845,000. Azora Capital LP acquired a new stake in Franklin Resources in the 2nd quarter valued at approximately $229,850,000. Bank of New York Mellon Corp acquired a new stake in Franklin Resources in the 2nd quarter valued at approximately $152,692,000. Gallagher Fiduciary Advisors LLC purchased a new stake in Franklin Resources in the second quarter valued at approximately $45,904,000. Finally, Bank of America Corp DE purchased a new stake in Franklin Resources in the second quarter valued at approximately $41,068,000. Institutional investors and hedge funds 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 headquartered in San Mateo, California. The company provides investment solutions to individuals, financial professionals, institutions, and other clients worldwide.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios, and alternative investment strategies. Through its investment teams and specialist affiliates, Franklin Templeton offers capabilities across equities, fixed income, multi-asset strategies, private markets, real assets, and other areas of asset management.

Franklin Resources was founded in 1947 by Rupert H.

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