Franklin Resources (NYSE:BEN) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Franklin Resources' stock has received a "hold (c)" rating from Weiss Ratings, maintaining its position amidst varied analyst opinions.
• Recent price target adjustments have seen JPMorgan and Goldman Sachs set targets at $29.00, with a majority of analysts giving it ratings ranging from "Buy" to "Sell".
• In its most recent earnings report, Franklin Resources posted $0.49 earnings per share, exceeding estimates, but reported a quarterly revenue decline of 2.2% compared to the previous year.

Franklin Resources (NYSE:BEN - Get Free Report)'s stock had its "hold (c)" rating reiterated by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently weighed in on BEN. JPMorgan Chase & Co. raised their price target on Franklin Resources from $22.00 to $29.00 and gave the company a "neutral" rating in a report on Monday, August 4th. The Goldman Sachs Group upgraded shares of Franklin Resources from a "neutral" rating to a "buy" rating and set a $29.00 price target on the stock in a research report on Friday, June 27th. Zacks Research downgraded shares of Franklin Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Morgan Stanley boosted their target price on shares of Franklin Resources from $20.00 to $21.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 12th. Finally, Cowen reiterated a "buy" rating on shares of Franklin Resources in a research report on Monday, June 16th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $24.25.

Franklin Resources Price Performance

Franklin Resources stock traded up $0.18 during mid-day trading on Wednesday, hitting $23.58. 4,621,952 shares of the company were exchanged, compared to its average volume of 4,421,110. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.94. The business has a fifty day moving average of $24.61 and a 200 day moving average of $22.51. Franklin Resources has a 1-year low of $16.25 and a 1-year high of $26.08. The company has a market capitalization of $12.24 billion, a PE ratio of 46.24, a price-to-earnings-growth ratio of 1.51 and a beta of 1.50.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its earnings results on Friday, August 1st. The closed-end fund reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.38 billion. Franklin Resources had a net margin of 3.73% and a return on equity of 8.76%. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. As a group, sell-side analysts expect that Franklin Resources will post 2.16 earnings per share for the current year.

Institutional Investors Weigh In On Franklin Resources

A number of institutional investors have recently modified their holdings of BEN. Principal Financial Group Inc. increased its holdings in Franklin Resources by 22.5% in the 1st quarter. Principal Financial Group Inc. now owns 464,238 shares of the closed-end fund's stock valued at $8,937,000 after buying an additional 85,407 shares during the period. Concurrent Investment Advisors LLC acquired a new position in shares of Franklin Resources during the 1st quarter worth $203,000. Mirae Asset Global Investments Co. Ltd. grew its position in Franklin Resources by 5.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,576 shares of the closed-end fund's stock valued at $1,573,000 after acquiring an additional 4,530 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Franklin Resources in the 1st quarter valued at approximately $811,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Franklin Resources by 4.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 476,253 shares of the closed-end fund's stock valued at $9,168,000 after purchasing an additional 19,673 shares during the last quarter. Institutional investors own 47.56% of the company's stock.

About Franklin Resources

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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