Franklin Resources (NYSE:BEN) Price Target Raised to $21.50

Franklin Resources (NYSE:BEN - Get Free Report) had its price target hoisted by analysts at The Goldman Sachs Group from $19.00 to $21.50 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the closed-end fund's stock. The Goldman Sachs Group's price objective would indicate a potential upside of 6.88% from the stock's current price.

Several other analysts also recently commented on BEN. Evercore ISI reduced their target price on Franklin Resources from $19.00 to $17.00 and set an "underperform" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company boosted their price objective on Franklin Resources from $20.00 to $21.50 and gave the company an "equal weight" rating in a report on Monday. JPMorgan Chase & Co. cut their target price on Franklin Resources from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. TD Cowen reduced their price objective on shares of Franklin Resources from $20.00 to $17.50 and set a "hold" rating for the company in a report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Franklin Resources from $19.00 to $21.00 and gave the stock an "underperform" rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $19.46.

Franklin Resources Trading Up 0.3 %

NYSE BEN traded up $0.06 during mid-day trading on Monday, reaching $20.12. 1,383,653 shares of the stock were exchanged, compared to its average volume of 4,259,948. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a 50 day simple moving average of $18.96 and a 200-day simple moving average of $20.19. Franklin Resources has a one year low of $16.25 and a one year high of $24.86. The stock has a market cap of $10.57 billion, a P/E ratio of 30.96, a P/E/G ratio of 2.31 and a beta of 1.39.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its earnings results on Friday, May 2nd. The closed-end fund reported $0.47 earnings per share for the quarter, hitting analysts' consensus estimates of $0.47. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.44 billion. Franklin Resources had a return on equity of 9.45% and a net margin of 4.32%. The firm's revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. On average, analysts anticipate that Franklin Resources will post 2.16 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. CoreCap Advisors LLC boosted its position in Franklin Resources by 147.1% during the fourth quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund's stock worth $25,000 after purchasing an additional 737 shares during the period. GeoWealth Management LLC grew its position in shares of Franklin Resources by 350.4% in the fourth quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund's stock valued at $26,000 after purchasing an additional 981 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Franklin Resources by 44.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund's stock valued at $33,000 after purchasing an additional 505 shares during the period. Headlands Technologies LLC purchased a new stake in Franklin Resources during the 4th quarter worth about $34,000. Finally, Principal Securities Inc. boosted its stake in Franklin Resources by 561.1% in the 4th quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund's stock worth $40,000 after purchasing an additional 1,661 shares during the period. Institutional investors own 47.56% of the company's stock.

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.

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