Franklin Resources (NYSE:BEN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Franklin Resources (NYSE:BEN - Get Free Report) had its price target upped by equities researchers at Wells Fargo & Company from $20.50 to $24.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the closed-end fund's stock. Wells Fargo & Company's target price points to a potential upside of 16.48% from the company's current price.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley lifted their target price on Franklin Resources from $18.00 to $19.00 and gave the stock an "underweight" rating in a research note on Friday, December 20th. Keefe, Bruyette & Woods increased their target price on shares of Franklin Resources from $19.00 to $21.00 and gave the company an "underperform" rating in a research report on Monday. JPMorgan Chase & Co. lowered their price target on shares of Franklin Resources from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lowered their target price on Franklin Resources from $20.00 to $19.00 and set a "hold" rating on the stock in a research note on Tuesday, November 5th. Finally, TD Cowen cut their price target on Franklin Resources from $20.00 to $18.50 and set a "hold" rating for the company in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $20.86.

Franklin Resources Stock Down 0.2 %

Shares of BEN traded down $0.05 during trading hours on Monday, reaching $20.61. 2,755,694 shares of the stock traded hands, compared to its average volume of 4,814,121. Franklin Resources has a 52 week low of $18.83 and a 52 week high of $28.61. 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 stock has a fifty day simple moving average of $20.75 and a 200 day simple moving average of $20.92. The company has a market cap of $10.80 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 1.51 and a beta of 1.42.

Franklin Resources (NYSE:BEN - Get Free Report) last announced its earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, topping 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 period in the prior year, the firm posted $0.65 EPS. On average, equities analysts forecast that Franklin Resources will post 2.19 EPS for the current year.

Institutional Trading of Franklin Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Franklin Resources in the third quarter worth $880,000. FORA Capital LLC purchased a new position in shares of Franklin Resources during the third quarter worth about $1,857,000. Principal Financial Group Inc. increased its position in shares of Franklin Resources by 9.3% in the third quarter. Principal Financial Group Inc. now owns 381,192 shares of the closed-end fund's stock worth $7,681,000 after purchasing an additional 32,490 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Franklin Resources by 44.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,998,574 shares of the closed-end fund's stock valued at $60,421,000 after purchasing an additional 925,590 shares in the last quarter. Finally, Swedbank AB grew its stake in Franklin Resources by 78.3% in the 3rd quarter. Swedbank AB now owns 62,076 shares of the closed-end fund's stock worth $1,251,000 after buying an additional 27,259 shares in the last quarter. 47.56% of the stock is currently owned by hedge funds and other 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.