BMO Capital Markets Issues Positive Forecast for Franklin Resources (NYSE:BEN) Stock Price

Franklin Resources (NYSE:BEN - Get Free Report) had its price objective hoisted by research analysts at BMO Capital Markets from $20.00 to $23.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "market perform" rating on the closed-end fund's stock. BMO Capital Markets' price objective would indicate a potential upside of 11.62% from the stock's current price.

Several other equities research analysts also recently issued reports on the company. Morgan Stanley boosted their price objective on Franklin Resources from $18.00 to $19.00 and gave the company an "underweight" rating in a report on Friday, December 20th. TD Cowen reduced their target price on shares of Franklin Resources from $20.00 to $18.50 and set a "hold" rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price objective on Franklin Resources from $21.00 to $19.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company decreased their target price on Franklin Resources from $22.50 to $20.50 and set an "equal weight" rating for the company in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods upped their price target on Franklin Resources from $19.00 to $21.00 and gave the stock an "underperform" rating in a report on Monday. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $20.86.

Franklin Resources Price Performance

Shares of BEN traded down $0.05 during trading hours on Monday, hitting $20.61. 2,755,694 shares of the stock were exchanged, compared to its average volume of 4,814,121. The stock's 50-day moving average price is $20.75 and its two-hundred day moving average price is $20.92. Franklin Resources has a 12-month low of $18.83 and a 12-month high of $28.61. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market cap of $10.80 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 1.51 and a beta of 1.42.

Franklin Resources (NYSE:BEN - Get Free Report) last released its earnings results on Friday, January 31st. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. Franklin Resources had a net margin of 4.32% and a return on equity of 9.41%. During the same quarter last year, the business earned $0.65 earnings per share. Research analysts expect that Franklin Resources will post 2.19 earnings per share for the current year.

Institutional Trading of Franklin Resources

Institutional investors have recently modified their holdings of the stock. MFA Wealth Advisors LLC purchased a new position in shares of Franklin Resources in the 3rd quarter valued at $26,000. Matrix Trust Co acquired a new position in Franklin Resources in the third quarter valued at $29,000. Smartleaf Asset Management LLC grew its holdings in shares of Franklin Resources by 44.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund's stock worth $33,000 after purchasing an additional 505 shares during the last quarter. Larson Financial Group LLC increased its position in shares of 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 worth $36,000 after purchasing an additional 1,277 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Franklin Resources in the third quarter valued at approximately $39,000. Hedge funds and other 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.