Franklin Resources (NYSE:BEN – Get Free Report) had its price objective cut by investment analysts at Barclays from $36.00 to $34.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the closed-end fund’s stock. Barclays‘s price target would suggest a potential upside of 10.31% from the company’s current price.
A number of other analysts have also commented on BEN. Zacks Research lowered shares of Franklin Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Evercore reissued an “underperform” rating and issued a $35.00 price objective on shares of Franklin Resources in a report on Friday, July 10th. JPMorgan Chase & Co. lifted their price target on shares of Franklin Resources from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $34.00 target price on shares of Franklin Resources in a report on Monday, August 3rd. Finally, TD Cowen lowered their price target on shares of Franklin Resources from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Franklin Resources currently has an average rating of “Hold” and an average price target of $35.89.
Read Our Latest Stock Analysis on BEN
Franklin Resources Price Performance
Franklin Resources (NYSE:BEN – Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The closed-end fund reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $1.76 billion. Franklin Resources had a net margin of 8.72% and a return on equity of 11.55%. The company’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. On average, equities research analysts forecast that Franklin Resources will post 2.91 earnings per share for the current year.
Institutional Trading of Franklin Resources
Institutional investors have recently bought and sold shares of the stock. United Community Bank increased its stake in Franklin Resources by 0.9% in the second quarter. United Community Bank now owns 37,849 shares of the closed-end fund’s stock valued at $1,259,000 after acquiring an additional 320 shares during the last quarter. Empirical Finance LLC raised its holdings in Franklin Resources by 3.7% in the 2nd quarter. Empirical Finance LLC now owns 10,783 shares of the closed-end fund’s stock worth $359,000 after purchasing an additional 380 shares in the last quarter. Greenwich Wealth Management LLC boosted its position in Franklin Resources by 0.3% during the 2nd quarter. Greenwich Wealth Management LLC now owns 143,825 shares of the closed-end fund’s stock valued at $4,785,000 after acquiring an additional 389 shares in the last quarter. Lido Advisors LLC grew 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 worth $244,000 after purchasing an additional 395 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Franklin Resources by 12.2% during the first quarter. Geneos Wealth Management Inc. now owns 3,671 shares of the closed-end fund’s stock valued at $87,000 after buying an additional 400 shares during the period. 47.56% of the stock is currently owned by institutional investors.
About Franklin Resources
Franklin Resources, Inc, operating under the Franklin Templeton brand, is a global investment management organization. The company provides investment solutions for individual investors, financial professionals, institutions and retirement-plan participants through a range of actively managed and specialized strategies.
Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investment strategies. Franklin Templeton offers capabilities spanning equities, fixed income, multi-asset investing, private markets and other specialized areas, with investment teams and brands serving different market segments and regions.
Founded in 1947 by Rupert H.
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