Franklin Resources, Inc. (NYSE:BEN)‘s stock had its “hold” rating reiterated by analysts at Keefe, Bruyette & Woods in a research note issued on Thursday. They currently have a $47.00 target price on the closed-end fund’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 4.61% from the stock’s current price.

Several other equities analysts also recently weighed in on BEN. BidaskClub downgraded Franklin Resources from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, October 3rd. UBS AG reissued a “neutral” rating and set a $45.00 target price (down previously from $46.00) on shares of Franklin Resources in a research report on Monday, July 31st. Morgan Stanley reaffirmed an “underweight” rating and issued a $40.00 price objective (up previously from $39.00) on shares of Franklin Resources in a research report on Monday, July 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $44.00 price objective on shares of Franklin Resources in a research report on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Franklin Resources currently has an average rating of “Hold” and an average target price of $44.36.

Shares of Franklin Resources (NYSE:BEN) opened at 44.93 on Thursday. Franklin Resources has a 1-year low of $33.02 and a 1-year high of $47.65. The stock has a market cap of $25.06 billion, a price-to-earnings ratio of 14.62 and a beta of 1.72. The stock’s 50 day moving average price is $43.16 and its 200-day moving average price is $43.31.

Franklin Resources (NYSE:BEN) last released its earnings results on Friday, July 28th. The closed-end fund reported $0.73 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.73. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. Franklin Resources had a return on equity of 13.96% and a net margin of 27.30%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. On average, equities research analysts forecast that Franklin Resources will post $2.96 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Franklin Resources by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 27,248,491 shares of the closed-end fund’s stock worth $1,220,459,000 after purchasing an additional 318,449 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Franklin Resources by 1.2% during the 2nd quarter. BlackRock Inc. now owns 21,369,185 shares of the closed-end fund’s stock worth $957,127,000 after purchasing an additional 249,766 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of Franklin Resources by 2.4% during the 2nd quarter. Pzena Investment Management LLC now owns 10,348,419 shares of the closed-end fund’s stock worth $463,506,000 after purchasing an additional 246,306 shares during the last quarter. Kiltearn Partners LLP lifted its stake in shares of Franklin Resources by 0.8% during the 2nd quarter. Kiltearn Partners LLP now owns 6,118,700 shares of the closed-end fund’s stock worth $274,057,000 after purchasing an additional 50,100 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Franklin Resources by 2.3% during the 1st quarter. FMR LLC now owns 5,340,482 shares of the closed-end fund’s stock worth $225,047,000 after purchasing an additional 121,316 shares during the last quarter. Hedge funds and other institutional investors own 44.96% of the company’s stock.

About Franklin Resources

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)

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