TD Cowen Cuts Franklin Resources (NYSE:BEN) Price Target to $25.50

Franklin Resources (NYSE:BEN) had its price objective cut by equities researchers at TD Cowen from $29.00 to $25.50 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the closed-end fund’s stock. TD Cowen’s target price would suggest a potential upside of 11.99% from the company’s previous close.

A number of other brokerages have also recently commented on BEN. UBS Group lifted their target price on shares of Franklin Resources from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Franklin Resources from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, January 30th. BMO Capital Markets cut their target price on shares of Franklin Resources from $30.00 to $27.00 and set a “market perform” rating on the stock in a report on Tuesday. Wells Fargo & Company raised shares of Franklin Resources from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $24.00 to $30.00 in a report on Monday, January 8th. Finally, Evercore ISI cut their target price on shares of Franklin Resources from $29.00 to $26.00 and set an “underperform” rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $26.00.

Franklin Resources Stock Down 0.3 %

Shares of NYSE:BEN opened at $22.77 on Tuesday. The company has a market capitalization of $11.99 billion, a PE ratio of 13.01, a P/E/G ratio of 1.23 and a beta of 1.40. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.86. Franklin Resources has a twelve month low of $21.88 and a twelve month high of $30.32. The firm has a 50 day simple moving average of $26.62 and a 200-day simple moving average of $26.35.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Monday, April 29th. The closed-end fund reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01). The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Franklin Resources had a return on equity of 11.04% and a net margin of 11.09%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 EPS. On average, equities analysts predict that Franklin Resources will post 2.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Franklin Resources

Several institutional investors have recently bought and sold shares of BEN. Peoples Bank KS acquired a new position in Franklin Resources in the 3rd quarter valued at $25,000. Blue Trust Inc. grew its stake in shares of Franklin Resources by 240.5% during the 4th quarter. Blue Trust Inc. now owns 882 shares of the closed-end fund’s stock worth $26,000 after purchasing an additional 623 shares during the period. Bell Investment Advisors Inc grew its stake in shares of Franklin Resources by 975.5% during the 3rd quarter. Bell Investment Advisors Inc now owns 1,140 shares of the closed-end fund’s stock worth $28,000 after purchasing an additional 1,034 shares during the period. Creative Financial Designs Inc. ADV acquired a new position in shares of Franklin Resources during the 4th quarter worth $31,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Franklin Resources by 149.1% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,111 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 665 shares during the period. 47.56% of the stock is owned by institutional investors and hedge funds.

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.