Jefferies Financial Group Reiterates “Hold” Rating for Franklin Resources (BEN)

Franklin Resources (NYSE:BEN)‘s stock had its “hold” rating reiterated by equities researchers at Jefferies Financial Group in a research report issued on Wednesday. They currently have a $30.00 price objective on the closed-end fund’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 0.67% from the company’s previous close. Jefferies Financial Group also issued estimates for Franklin Resources’ Q1 2019 earnings at $0.60 EPS, Q2 2019 earnings at $0.66 EPS, Q3 2019 earnings at $0.68 EPS, Q4 2019 earnings at $0.70 EPS, FY2019 earnings at $2.64 EPS and FY2020 earnings at $2.93 EPS.

Other analysts have also recently issued research reports about the stock. Deutsche Bank cut their target price on shares of Franklin Resources from $30.00 to $29.00 and set a “hold” rating for the company in a research note on Friday, November 16th. Zacks Investment Research raised shares of Franklin Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 5th. UBS Group cut their target price on shares of Franklin Resources from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, October 8th. ValuEngine raised shares of Franklin Resources from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 20th. Finally, Morgan Stanley set a $29.00 target price on shares of Franklin Resources and gave the stock a “sell” rating in a research note on Wednesday, November 14th. Eight analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company presently has a consensus rating of “Sell” and an average target price of $31.43.

BEN opened at $29.80 on Wednesday. Franklin Resources has a fifty-two week low of $27.34 and a fifty-two week high of $45.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.71 and a quick ratio of 3.71. The firm has a market capitalization of $15.53 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.30 and a beta of 1.26.



Franklin Resources (NYSE:BEN) last released its earnings results on Thursday, October 25th. The closed-end fund reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.39. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Franklin Resources had a net margin of 12.10% and a return on equity of 16.26%. As a group, equities analysts anticipate that Franklin Resources will post 2.75 EPS for the current year.

In related news, EVP Craig Steven Tyle sold 10,216 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $34.26, for a total transaction of $350,000.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Rupert H. Johnson, Jr. sold 323,000 shares of the company’s stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $32.42, for a total transaction of $10,471,660.00. Following the sale, the insider now directly owns 103,653,045 shares of the company’s stock, valued at approximately $3,360,431,718.90. The disclosure for this sale can be found here. 22.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Franklin Resources by 17.1% in the 3rd quarter. Vanguard Group Inc. now owns 32,666,942 shares of the closed-end fund’s stock valued at $993,402,000 after purchasing an additional 4,764,162 shares during the last quarter. Vanguard Group Inc boosted its holdings in Franklin Resources by 17.1% in the 3rd quarter. Vanguard Group Inc now owns 32,666,942 shares of the closed-end fund’s stock valued at $993,402,000 after purchasing an additional 4,764,162 shares during the last quarter. Abrams Capital Management L.P. boosted its holdings in Franklin Resources by 25.2% in the 3rd quarter. Abrams Capital Management L.P. now owns 9,945,023 shares of the closed-end fund’s stock valued at $302,428,000 after purchasing an additional 2,000,000 shares during the last quarter. Kiltearn Partners LLP boosted its holdings in Franklin Resources by 0.6% in the 3rd quarter. Kiltearn Partners LLP now owns 8,089,794 shares of the closed-end fund’s stock valued at $246,011,000 after purchasing an additional 50,694 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Franklin Resources by 27.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,340,194 shares of the closed-end fund’s stock valued at $131,985,000 after purchasing an additional 932,439 shares during the last quarter. Institutional investors own 47.90% of the company’s stock.

Franklin Resources Company Profile

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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Analyst Recommendations for Franklin Resources (NYSE:BEN)

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