Franklin Resources (NYSE:BEN) Stock Rating Reaffirmed as “Market Perform” by Keefe, Bruyette & Woods

Franklin Resources (NYSE:BEN)‘s stock had its “market perform” rating reaffirmed by Keefe, Bruyette & Woods in a report issued on Monday, Benzinga reports. They presently have a $38.00 price target on the closed-end fund’s stock, up from their previous price target of $37.00. Keefe, Bruyette & Woods‘s price objective would suggest a potential upside of 5.48% from the company’s current price.

A number of other brokerages have also recently issued reports on BEN. UBS Group initiated coverage on shares of Franklin Resources in a research report on Wednesday, October 7th. They issued a “buy” rating and a $40.00 target price for the company. TD Cowen increased their target price on shares of Franklin Resources from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday. Zacks Research lowered shares of Franklin Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $34.00 price target on shares of Franklin Resources in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Franklin Resources from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, October 12th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Franklin Resources currently has an average rating of “Hold” and a consensus price target of $36.78.

Franklin Resources Stock Performance

NYSE:BEN traded up $2.29 during mid-day trading on Monday, hitting $36.02. 1,836,582 shares of the stock were exchanged, compared to its average volume of 4,699,145. The stock has a market capitalization of $18.30 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 0.60 and a beta of 1.56. The firm’s 50-day simple moving average is $32.58 and its 200 day simple moving average is $30.38. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.48 and a current ratio of 1.48. Franklin Resources has a fifty-two week low of $21.10 and a fifty-two week high of $36.28.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, November 6th. The closed-end fund reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.17. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.86 billion. Franklin Resources had a return on equity of 12.59% and a net margin of 11.42%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 EPS. As a group, equities analysts anticipate that Franklin Resources will post 3.20 EPS for the current fiscal year.

Hedge Funds Weigh In On Franklin Resources

A number of institutional investors have recently modified their holdings of BEN. BankPlus Trust Department acquired a new position in Franklin Resources during the third quarter worth about $994,000. Aberdeen Group plc boosted its stake in shares of Franklin Resources by 1,028.9% in the 3rd quarter. Aberdeen Group plc now owns 241,208 shares of the closed-end fund’s stock valued at $7,748,000 after purchasing an additional 219,841 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in shares of Franklin Resources in the 3rd quarter valued at approximately $566,000. William Blair Investment Management LLC bought a new stake in shares of Franklin Resources during the 3rd quarter valued at approximately $360,000. Finally, Evolution Advisers Inc. bought a new stake in shares of Franklin Resources during the 3rd quarter valued at approximately $191,000. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Company Profile

Franklin Resources, Inc is a global investment management company that operates under the Franklin Templeton name. It offers investment products and services to individual investors, financial professionals, institutions and other clients, including mutual funds, exchange-traded funds and separately managed accounts.

The company invests across a range of asset classes and strategies, including equities, fixed income, multi-asset portfolios and alternative investments. Its services also include retirement solutions and wealth management.

Founded in 1947, Franklin Resources has grown through acquisitions, including its 2020 acquisition of Legg Mason.