Franklin Resources (NYSE:BEN) Upgraded at TD Cowen

Franklin Resources (NYSE:BEN - Get Free Report) was upgraded by TD Cowen from a "hold" rating to a "buy" rating in a research note issued on Wednesday,Finviz reports. The brokerage presently has a $27.00 target price on the closed-end fund's stock. TD Cowen's price objective suggests a potential upside of 25.17% from the stock's previous close.

Several other analysts have also commented on BEN. Cowen reaffirmed a "hold" rating on shares of Franklin Resources in a research note on Monday, May 5th. Barclays upped their price objective on Franklin Resources from $17.00 to $19.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. BMO Capital Markets raised their target price on shares of Franklin Resources from $20.00 to $23.00 and gave the company a "market perform" rating in a research note on Monday, February 3rd. UBS Group upped their price target on shares of Franklin Resources from $19.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company raised their target price on shares of Franklin Resources from $20.00 to $21.50 and gave the company an "equal weight" rating in a report on Monday, May 5th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $20.25.

Franklin Resources Trading Down 0.6%

Shares of NYSE BEN opened at $21.57 on Wednesday. The stock has a market capitalization of $11.34 billion, a P/E ratio of 33.19, a PEG ratio of 2.31 and a beta of 1.39. Franklin Resources has a 52-week low of $16.25 and a 52-week high of $24.86. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. The stock's 50 day moving average price is $19.07 and its two-hundred day moving average price is $20.21.

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 firm had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.44 billion. Franklin Resources had a net margin of 4.32% and a return on equity of 9.45%. The firm's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. On average, analysts anticipate that Franklin Resources will post 2.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BEN. CoreCap Advisors LLC lifted its position in Franklin Resources by 147.1% in the fourth quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund's stock worth $25,000 after buying an additional 737 shares during the last quarter. GeoWealth Management LLC raised its holdings 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 worth $26,000 after buying an additional 981 shares during the last quarter. Manchester Capital Management LLC boosted its position in Franklin Resources by 49.9% in the first quarter. Manchester Capital Management LLC now owns 1,668 shares of the closed-end fund's stock valued at $32,000 after buying an additional 555 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Franklin Resources by 44.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund's stock worth $33,000 after purchasing an additional 505 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Franklin Resources in the fourth quarter worth about $34,000. 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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