Franklin Resources (NYSE:BEN) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised Franklin Resources’ price target from $34 to $36 while maintaining an “equal weight” rating, implying 6.15% upside from the prior close.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $32.25; ratings include one Strong Buy, four Buys, three Holds and two Sells.
• Franklin Resources exceeded quarterly expectations, reporting $0.72 in earnings per share versus $0.66 expected and $2.28 billion in revenue versus $1.76 billion forecast. Institutional investors own 47.56% of the company’s stock.

Franklin Resources (NYSE:BEN - Get Free Report) had its price target increased by stock analysts at Barclays from $34.00 to $36.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the closed-end fund's stock. Barclays's target price would suggest a potential upside of 6.15% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Evercore reaffirmed an "underperform" rating and set a $35.00 price target on shares of Franklin Resources in a research report on Friday, July 10th. The Goldman Sachs Group upped their target price on shares of Franklin Resources from $30.50 to $34.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Wall Street Zen raised shares of Franklin Resources from a "hold" rating to a "buy" rating in a research report on Sunday, June 14th. JPMorgan Chase & Co. upped their price objective on Franklin Resources from $28.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Finally, Morgan Stanley raised their target price on Franklin Resources from $31.00 to $34.00 and gave the stock an "equal weight" rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $32.25.

Franklin Resources Stock Performance

Shares of BEN stock opened at $33.91 on Monday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.10. The company has a 50 day moving average price of $32.67 and a 200-day moving average price of $28.85. Franklin Resources has a 52 week low of $21.10 and a 52 week high of $34.92. The firm has a market capitalization of $17.62 billion, a PE ratio of 23.07, a P/E/G ratio of 0.75 and a beta of 1.54.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.06. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $1.76 billion. Franklin Resources had a net margin of 8.72% and a return on equity of 11.52%. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 earnings per share. As a group, equities research analysts expect that Franklin Resources will post 2.81 earnings per share for the current year.

Institutional Trading of Franklin Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Franklin Resources in the first quarter valued at about $6,254,000. Forty three Eighteen Advisors LLC purchased a new stake in shares of Franklin Resources during the first quarter worth about $1,580,000. Artemis Investment Management LLP bought a new stake in Franklin Resources during the 4th quarter valued at approximately $1,336,000. Quantum Portfolio Management LLC bought a new stake in Franklin Resources during the 1st quarter valued at approximately $941,000. Finally, Fifth Third Bancorp lifted its holdings in Franklin Resources by 1,893.2% in the 1st quarter. Fifth Third Bancorp now owns 168,306 shares of the closed-end fund's stock worth $3,975,000 after purchasing an additional 159,862 shares in the last quarter. 47.56% of the stock is owned by hedge funds and other institutional investors.

Franklin Resources Company Profile

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm's core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton's product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.

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