Franklin Resources (NYSE:BEN) Price Target Lowered to $19.00 at Deutsche Bank Aktiengesellschaft

Franklin Resources (NYSE:BEN) had its target price dropped by investment analysts at Deutsche Bank Aktiengesellschaft from $20.00 to $19.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the closed-end fund’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential downside of 6.08% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $23.00 target price on shares of Franklin Resources in a report on Thursday, August 22nd. TD Cowen increased their price target on shares of Franklin Resources from $23.00 to $24.00 and gave the stock a “hold” rating in a report on Monday, July 29th. UBS Group decreased their target price on shares of Franklin Resources from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Barclays decreased their price target on shares of Franklin Resources from $20.00 to $19.00 and set an “underweight” rating on the stock in a report on Monday, October 14th. Finally, BMO Capital Markets reduced their target price on Franklin Resources from $27.00 to $26.00 and set a “market perform” rating on the stock in a research note on Monday, July 29th. Five analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.03.

Franklin Resources Stock Up 0.3 %

Franklin Resources stock opened at $20.23 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.71 and a current ratio of 1.71. The stock has a market cap of $10.58 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 2.81 and a beta of 1.38. The firm’s 50-day simple moving average is $20.20 and its 200 day simple moving average is $21.99. Franklin Resources has a fifty-two week low of $18.94 and a fifty-two week high of $30.32.

Franklin Resources (NYSE:BEN) last released its earnings results on Monday, November 4th. The closed-end fund reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Franklin Resources had a net margin of 10.24% and a return on equity of 10.60%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the company earned $0.84 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. Research analysts predict that Franklin Resources will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Franklin Resources Inc sold 7,657 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $43.90, for a total transaction of $336,142.30. Following the completion of the sale, the insider now owns 65,862 shares of the company’s stock, valued at $2,891,341.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Franklin Resources news, insider Franklin Resources Inc sold 7,657 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $43.90, for a total transaction of $336,142.30. Following the completion of the sale, the insider now directly owns 65,862 shares of the company’s stock, valued at $2,891,341.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jennifer M. Johnson bought 18,900 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $20.95 per share, with a total value of $395,955.00. Following the completion of the purchase, the chief executive officer now directly owns 216,900 shares of the company’s stock, valued at $4,544,055. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 231,600 shares of company stock valued at $4,537,637 and sold 24,024 shares valued at $1,051,375. 24.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Franklin Resources

Institutional investors have recently modified their holdings of the stock. US Bancorp DE raised its stake in shares of Franklin Resources by 2.1% in the first quarter. US Bancorp DE now owns 22,082 shares of the closed-end fund’s stock valued at $621,000 after acquiring an additional 444 shares during the period. Interval Partners LP grew its position in Franklin Resources by 0.4% in the 2nd quarter. Interval Partners LP now owns 108,894 shares of the closed-end fund’s stock valued at $2,434,000 after acquiring an additional 483 shares during the last quarter. Richardson Financial Services Inc. increased its stake in Franklin Resources by 14.9% in the first quarter. Richardson Financial Services Inc. now owns 4,020 shares of the closed-end fund’s stock worth $113,000 after purchasing an additional 520 shares during the period. State of Michigan Retirement System lifted its position in shares of Franklin Resources by 0.7% during the second quarter. State of Michigan Retirement System now owns 88,195 shares of the closed-end fund’s stock worth $1,971,000 after purchasing an additional 600 shares during the last quarter. Finally, Gold Investment Management Ltd. boosted its stake in shares of Franklin Resources by 2.5% during the second quarter. Gold Investment Management Ltd. now owns 26,032 shares of the closed-end fund’s stock valued at $582,000 after purchasing an additional 644 shares during the period. 47.56% of the stock is owned by institutional investors.

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.