Analysts at Barclays PLC initiated coverage on shares of Franklin Resources, Inc. (NYSE:BEN) in a report released on Friday, MarketBeat reports. The brokerage set an “underweight” rating and a $40.00 price target on the closed-end fund’s stock. Barclays PLC’s price target indicates a potential downside of 2.53% from the company’s previous close.

BEN has been the topic of several other reports. BidaskClub upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Wednesday, June 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $47.00 price objective on shares of Franklin Resources in a research report on Thursday, July 6th. Deutsche Bank AG lifted their price objective on shares of Franklin Resources from $41.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, July 4th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $44.00 price objective on shares of Franklin Resources in a research report on Friday, July 14th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Franklin Resources currently has an average rating of “Hold” and a consensus price target of $44.09.

Shares of Franklin Resources (NYSE BEN) traded down 0.24% during midday trading on Friday, reaching $41.04. The company’s stock had a trading volume of 1,662,978 shares. The stock has a market capitalization of $22.89 billion, a PE ratio of 13.36 and a beta of 1.73. Franklin Resources has a 12 month low of $33.02 and a 12 month high of $47.65. The stock’s 50 day moving average is $43.42 and its 200 day moving average is $43.12.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings results on Friday, July 28th. The closed-end fund reported $0.73 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. Franklin Resources had a net margin of 27.30% and a return on equity of 13.96%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 earnings per share. On average, analysts forecast that Franklin Resources will post $2.95 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Franklin Resources, Inc. (BEN) Now Covered by Barclays PLC” was originally published by American Banking News and is owned by of American Banking News. If you are viewing this story on another domain, it was stolen and reposted in violation of US & international copyright and trademark law. The legal version of this story can be read at https://www.americanbankingnews.com/2017/09/09/franklin-resources-inc-ben-now-covered-by-barclays-plc.html.

In other news, CFO Kenneth A. Lewis sold 17,141 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $44.51, for a total transaction of $762,945.91. Following the transaction, the chief financial officer now directly owns 124,021 shares in the company, valued at approximately $5,520,174.71. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 21.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of BEN. Acadian Asset Management LLC purchased a new position in shares of Franklin Resources during the 1st quarter valued at $193,000. Wells Fargo & Company MN grew its holdings in shares of Franklin Resources by 8.4% during the 1st quarter. Wells Fargo & Company MN now owns 1,183,761 shares of the closed-end fund’s stock valued at $49,883,000 after acquiring an additional 92,169 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Franklin Resources by 54.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 145,181 shares of the closed-end fund’s stock valued at $6,118,000 after acquiring an additional 51,239 shares in the last quarter. Tyers Asset Management LLC grew its holdings in shares of Franklin Resources by 4.3% during the 1st quarter. Tyers Asset Management LLC now owns 8,496 shares of the closed-end fund’s stock valued at $358,000 after acquiring an additional 352 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Franklin Resources by 32.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 41,619 shares of the closed-end fund’s stock valued at $1,820,000 after acquiring an additional 10,226 shares in the last quarter. Institutional investors and hedge funds own 44.97% of the company’s stock.

Franklin Resources Company Profile

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

Analyst Recommendations for Franklin Resources (NYSE:BEN)

Receive News & Ratings for Franklin Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.