Franklin Resources (NYSE:BEN) Stock Rating Lowered by StockNews.com

Franklin Resources (NYSE:BEN) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. decreased their price target on Franklin Resources from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday. Evercore ISI reduced their target price on Franklin Resources from $20.00 to $19.00 and set an “underperform” rating for the company in a report on Friday, October 4th. The Goldman Sachs Group reduced their target price on Franklin Resources from $23.75 to $21.25 and set a “sell” rating for the company in a report on Monday, September 30th. Morgan Stanley reduced their target price on Franklin Resources from $21.00 to $19.00 and set an “underweight” rating for the company in a report on Friday, October 18th. Finally, TD Cowen reduced their target price on Franklin Resources from $20.00 to $18.50 and set a “hold” rating for the company in a report on Tuesday. Six analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.20.

Franklin Resources Stock Up 2.8 %

NYSE BEN traded up $0.58 during trading on Wednesday, reaching $21.53. 5,471,712 shares of the company’s stock were exchanged, compared to its average volume of 4,061,040. The stock has a market cap of $11.26 billion, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 2.81 and a beta of 1.38. 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 company has a 50 day moving average price of $20.25 and a two-hundred day moving average price of $21.95. Franklin Resources has a 1 year low of $18.94 and a 1 year high of $30.32.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Franklin Resources

A number of large investors have recently bought and sold shares of the stock. Mizuho Markets Americas LLC grew its holdings in Franklin Resources by 5.0% during the 3rd quarter. Mizuho Markets Americas LLC now owns 257,503 shares of the closed-end fund’s stock valued at $5,189,000 after buying an additional 12,219 shares during the last quarter. Altrius Capital Management Inc boosted its holdings in Franklin Resources by 23.4% in the third quarter. Altrius Capital Management Inc now owns 217,553 shares of the closed-end fund’s stock valued at $4,384,000 after acquiring an additional 41,247 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Franklin Resources by 8.1% in the third quarter. CIBC Asset Management Inc now owns 58,203 shares of the closed-end fund’s stock valued at $1,173,000 after acquiring an additional 4,381 shares during the last quarter. Verus Capital Partners LLC boosted its holdings in Franklin Resources by 65.2% in the third quarter. Verus Capital Partners LLC now owns 31,898 shares of the closed-end fund’s stock valued at $643,000 after acquiring an additional 12,592 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Franklin Resources by 1.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 806,901 shares of the closed-end fund’s stock worth $16,259,000 after purchasing an additional 11,371 shares in the last quarter. Institutional investors and hedge funds own 47.56% 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.