Franklin Resources (NYSE:BEN) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $33.00 to $34.00 in a research report issued on Friday, BenzingaRatingsTable reports. The brokerage currently has an “underweight” rating on the closed-end fund’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 3.13% from the stock’s previous close.
A number of other equities research analysts have also weighed in on BEN. Citigroup lowered shares of Apergy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $41.00 to $34.00 in a report on Tuesday. TheStreet raised shares of Zimmer Biomet from a “c” rating to a “b-” rating in a report on Friday, April 26th. Bank of America set a $180.00 price objective on shares of CME Group and gave the company a “hold” rating in a report on Tuesday, April 9th. Zacks Investment Research raised shares of IMI PLC/S from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, Keefe, Bruyette & Woods lowered shares of Franklin Resources from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $34.00 to $33.00 in a report on Monday, April 29th. Seven research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.09.
Shares of BEN traded up $0.27 during trading hours on Friday, reaching $35.10. 44,915 shares of the company traded hands, compared to its average volume of 2,529,498. The company has a market capitalization of $17.65 billion, a PE ratio of 11.05, a P/E/G ratio of 1.93 and a beta of 1.19. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 0.07. Franklin Resources has a 12-month low of $27.34 and a 12-month high of $35.82. The stock has a fifty day simple moving average of $33.83.
Franklin Resources (NYSE:BEN) last announced its quarterly earnings data on Friday, April 26th. The closed-end fund reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.08. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. Franklin Resources had a net margin of 26.10% and a return on equity of 14.24%. The business’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. On average, analysts anticipate that Franklin Resources will post 2.58 EPS for the current fiscal year.
In other Franklin Resources news, EVP Craig Steven Tyle sold 10,924 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $32.04, for a total value of $350,004.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of BEN. Trustcore Financial Services LLC purchased a new stake in Franklin Resources in the first quarter valued at $25,000. Knuff & Co LLC acquired a new position in shares of Franklin Resources in the first quarter worth about $33,000. Vigilant Capital Management LLC acquired a new position in shares of Franklin Resources in the first quarter worth about $39,000. Investors Research Corp acquired a new position in shares of Franklin Resources in the first quarter worth about $56,000. Finally, Bronfman E.L. Rothschild L.P. raised its position in shares of Franklin Resources by 102.2% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 1,943 shares of the closed-end fund’s stock worth $58,000 after acquiring an additional 982 shares during the period. 48.48% of the stock is currently owned by institutional investors.
About Franklin Resources
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.
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