Analysts at Keefe, Bruyette & Woods assumed coverage on shares of Franklin Resources (NYSE:BEN – Get Free Report) in a report issued on Wednesday. The brokerage set a “market perform” rating and a $38.00 price target on the closed-end fund’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 10.86% from the stock’s previous close.
A number of other research firms have also commented on BEN. Barclays lifted their price objective on Franklin Resources from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Evercore reaffirmed an “underperform” rating and issued a $35.00 price target on shares of Franklin Resources in a research report on Friday, July 10th. Morgan Stanley upped their price target on Franklin Resources from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Friday, June 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Franklin Resources in a research report on Monday, August 31st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $34.00 target price on shares of Franklin Resources in a research report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.00.
Franklin Resources Stock Performance
Franklin Resources (NYSE:BEN – Get Free Report) last announced its earnings results on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, topping the consensus estimate of $0.66 by $0.06. The firm had revenue of $2.36 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 11.55%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. On average, research analysts expect that Franklin Resources will post 2.88 EPS for the current year.
Institutional Investors Weigh In On Franklin Resources
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. United Community Bank raised its holdings in Franklin Resources by 0.9% during the 2nd quarter. United Community Bank now owns 37,849 shares of the closed-end fund’s stock worth $1,259,000 after purchasing an additional 320 shares during the last quarter. Mariner LLC grew its position in shares of Franklin Resources by 0.7% during the 4th quarter. Mariner LLC now owns 56,151 shares of the closed-end fund’s stock worth $1,341,000 after buying an additional 377 shares during the period. Empirical Finance LLC raised its stake in shares of Franklin Resources by 3.7% during the second quarter. Empirical Finance LLC now owns 10,783 shares of the closed-end fund’s stock worth $359,000 after buying an additional 380 shares during the last quarter. Lido Advisors LLC boosted its stake in Franklin Resources by 4.0% in the first quarter. Lido Advisors LLC now owns 10,194 shares of the closed-end fund’s stock valued at $244,000 after acquiring an additional 395 shares during the last quarter. Finally, Zions Bancorporation National Association UT grew its holdings in Franklin Resources by 35.5% during the 4th quarter. Zions Bancorporation National Association UT now owns 1,512 shares of the closed-end fund’s stock worth $36,000 after acquiring an additional 396 shares during the period. Institutional investors and hedge funds own 47.56% of the company’s stock.
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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