Franklin Resources (NYSE:BEN) Earns Underperform Rating from Keefe, Bruyette & Woods

Franklin Resources (NYSE:BEN - Get Free Report)'s stock had its "underperform" rating reiterated by stock analysts at Keefe, Bruyette & Woods in a report issued on Tuesday, Benzinga reports. They currently have a $19.00 price target on the closed-end fund's stock, down from their prior price target of $20.00. Keefe, Bruyette & Woods' price target points to a potential downside of 9.31% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets cut their price objective on Franklin Resources from $27.00 to $26.00 and set a "market perform" rating for the company in a report on Monday, July 29th. UBS Group decreased their price objective on shares of Franklin Resources from $24.00 to $21.00 and set a "neutral" rating for the company in a research report on Tuesday, October 22nd. Wells Fargo & Company dropped their target price on shares of Franklin Resources from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 9th. The Goldman Sachs Group reduced their price target on Franklin Resources from $23.75 to $21.25 and set a "sell" rating for the company in a report on Monday, September 30th. Finally, Morgan Stanley dropped their price objective on Franklin Resources from $21.00 to $19.00 and set an "underweight" rating on the stock in a research note on Friday, October 18th. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, Franklin Resources currently has a consensus rating of "Hold" and a consensus target price of $20.20.

Franklin Resources Stock Up 3.9 %

Shares of NYSE:BEN traded up $0.79 during midday trading on Tuesday, reaching $20.95. 5,521,765 shares of the company were exchanged, compared to its average volume of 4,054,060. Franklin Resources has a fifty-two week low of $18.94 and a fifty-two week high of $30.32. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.93. The stock has a fifty day simple moving average of $20.20 and a two-hundred day simple moving average of $21.99. The firm has a market cap of $10.96 billion, a PE ratio of 12.80, a P/E/G ratio of 2.81 and a beta of 1.38.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The closed-end fund reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $1.70 billion. Franklin Resources had a return on equity of 10.60% and a net margin of 10.24%. The company's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the firm earned $0.84 earnings per share. As a group, sell-side analysts forecast that Franklin Resources will post 2.41 earnings per share for the current year.

Insider Transactions at Franklin Resources

In other news, major shareholder Charles B. Johnson acquired 100,000 shares of the firm's stock in a transaction dated Thursday, August 29th. The stock was purchased at an average price of $19.84 per share, for a total transaction of $1,984,000.00. Following the completion of the acquisition, the insider now directly owns 89,208,192 shares in the company, valued at $1,769,890,529.28. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Charles B. Johnson purchased 100,000 shares of the firm's stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average price of $19.84 per share, for a total transaction of $1,984,000.00. Following the completion of the acquisition, the insider now owns 89,208,192 shares of the company's stock, valued at $1,769,890,529.28. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer M. Johnson acquired 12,700 shares of the company's stock in a transaction on Wednesday, August 28th. The shares were bought at an average price of $19.66 per share, for a total transaction of $249,682.00. Following the completion of the purchase, the chief executive officer now owns 2,637,700 shares in the company, valued at approximately $51,857,182. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 231,600 shares of company stock valued at $4,537,637 and have sold 24,024 shares valued at $1,051,375. Insiders own 24.13% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Verus Capital Partners LLC boosted its stake in Franklin Resources by 65.2% during the third quarter. Verus Capital Partners LLC now owns 31,898 shares of the closed-end fund's stock valued at $643,000 after buying an additional 12,592 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in 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 valued at $16,259,000 after buying an additional 11,371 shares during the period. GSA Capital Partners LLP grew its stake in shares of Franklin Resources by 14.2% during the third quarter. GSA Capital Partners LLP now owns 21,675 shares of the closed-end fund's stock valued at $437,000 after buying an additional 2,689 shares during the last quarter. Versor Investments LP grew its position in Franklin Resources by 21.9% during the 3rd quarter. Versor Investments LP now owns 51,500 shares of the closed-end fund's stock worth $1,038,000 after acquiring an additional 9,247 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in Franklin Resources by 6.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 100,834 shares of the closed-end fund's stock worth $2,032,000 after purchasing an additional 6,524 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.