Franklin Resources (NYSE:BEN) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Franklin Resources (NYSE:BEN) had its target price lifted by equities researchers at BMO Capital Markets from $20.00 to $23.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the closed-end fund’s stock. BMO Capital Markets’ price target would indicate a potential upside of 3.51% from the company’s previous close.

A number of other analysts also recently issued reports on the company. The Goldman Sachs Group raised Franklin Resources from a “sell” rating to a “neutral” rating and raised their target price for the stock from $21.00 to $22.00 in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft decreased their target price on Franklin Resources from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their target price on Franklin Resources from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. StockNews.com raised Franklin Resources from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley raised their target price on Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Friday, December 20th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.09.

Franklin Resources Stock Performance

Shares of BEN opened at $22.22 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 1.51 and a beta of 1.42. The stock has a 50 day moving average of $20.86 and a 200 day moving average of $20.97. Franklin Resources has a 12 month low of $18.83 and a 12 month high of $28.61.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Friday, January 31st. The closed-end fund reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. Franklin Resources had a return on equity of 9.41% and a net margin of 4.32%. During the same quarter in the prior year, the business earned $0.65 earnings per share. As a group, sell-side analysts forecast that Franklin Resources will post 2.19 earnings per share for the current year.

Institutional Investors Weigh In On Franklin Resources

Several large investors have recently added to or reduced their stakes in BEN. MFA Wealth Advisors LLC bought a new stake in Franklin Resources during the third quarter valued at $26,000. Matrix Trust Co bought a new stake in Franklin Resources during the third quarter valued at $29,000. Larson Financial Group LLC boosted its stake in Franklin Resources by 254.4% during the third quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock valued at $36,000 after buying an additional 1,277 shares during the period. Brooklyn Investment Group bought a new stake in Franklin Resources during the third quarter valued at $39,000. Finally, Principal Securities Inc. boosted its stake in Franklin Resources by 561.1% during the fourth quarter. Principal Securities Inc. now owns 1,957 shares of the closed-end fund’s stock valued at $40,000 after buying an additional 1,661 shares during the period. Institutional investors own 47.56% of the company’s stock.

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.