Franklin Resources (NYSE:BEN - Get Free Report) had its target price lifted by stock analysts at Wells Fargo & Company from $20.00 to $21.50 in a research note issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the closed-end fund's stock. Wells Fargo & Company's price objective would suggest a potential upside of 5.11% from the company's current price.
BEN has been the topic of several other research reports. The Goldman Sachs Group reduced their price target on shares of Franklin Resources from $21.50 to $19.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. UBS Group lifted their target price on Franklin Resources from $19.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Barclays reduced their price target on Franklin Resources from $22.00 to $17.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price target on shares of Franklin Resources from $21.00 to $19.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Finally, BMO Capital Markets increased their price objective 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. Five research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, Franklin Resources currently has a consensus rating of "Hold" and a consensus target price of $19.46.
View Our Latest Research Report on BEN
Franklin Resources Stock Performance
Shares of NYSE:BEN traded up $0.39 on Monday, hitting $20.46. 6,426,662 shares of the company were exchanged, compared to its average volume of 4,285,466. Franklin Resources has a 1-year low of $16.25 and a 1-year high of $24.86. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $10.74 billion, a P/E ratio of 31.47, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39. The stock's 50 day moving average price is $18.97 and its 200 day moving average price is $20.19.
Franklin Resources (NYSE:BEN - Get Free Report) last released its earnings results on Friday, May 2nd. The closed-end fund reported $0.47 EPS for the quarter, hitting analysts' consensus estimates of $0.47. Franklin Resources had a net margin of 4.32% and a return on equity of 9.45%. The business had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter in the previous year, the company earned $0.56 earnings per share. The company's quarterly revenue was down 6.2% on a year-over-year basis. Sell-side analysts predict that Franklin Resources will post 2.16 EPS for the current year.
Institutional Investors Weigh In On Franklin Resources
Several large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its position in shares of Franklin Resources by 230.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 291,821 shares of the closed-end fund's stock worth $5,921,000 after purchasing an additional 203,414 shares in the last quarter. Twelve Points Wealth Management LLC lifted its holdings in shares of Franklin Resources by 20.5% during the fourth quarter. Twelve Points Wealth Management LLC now owns 159,738 shares of the closed-end fund's stock worth $3,241,000 after purchasing an additional 27,169 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Franklin Resources by 34.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 93,789 shares of the closed-end fund's stock valued at $1,903,000 after buying an additional 24,204 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Franklin Resources by 263.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,022,055 shares of the closed-end fund's stock valued at $40,744,000 after purchasing an additional 1,465,148 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Franklin Resources by 139.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 29,829 shares of the closed-end fund's stock valued at $605,000 after acquiring an additional 17,376 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company's stock.
Franklin Resources Company Profile
(
Get Free Report)
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.
Read More
Before you consider Franklin Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Franklin Resources wasn't on the list.
While Franklin Resources currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
