The Goldman Sachs Group Has Lowered Expectations for Franklin Resources (NYSE:BEN) Stock Price

Franklin Resources (NYSE:BEN - Get Free Report) had its price objective lowered by The Goldman Sachs Group from $21.50 to $19.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the closed-end fund's stock. The Goldman Sachs Group's price objective suggests a potential upside of 7.80% from the company's previous close.

A number of other equities research analysts also recently commented on the stock. TD Cowen dropped their price objective on shares of Franklin Resources from $20.00 to $17.50 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. reduced their target price on shares of Franklin Resources from $21.00 to $19.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Bank of America lowered their price target on Franklin Resources from $20.00 to $17.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. Evercore ISI reduced their price objective on Franklin Resources from $19.00 to $17.00 and set an "underperform" rating on the stock in a research report on Friday, April 11th. Finally, UBS Group upped their target price on Franklin Resources from $19.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, Franklin Resources presently has an average rating of "Hold" and an average price target of $18.96.

Franklin Resources Stock Performance

Shares of NYSE BEN traded up $0.08 during trading on Monday, reaching $17.63. 4,100,725 shares of the company traded hands, compared to its average volume of 4,349,007. The firm's fifty day simple moving average is $19.38 and its 200 day simple moving average is $20.30. Franklin Resources has a 12-month low of $16.25 and a 12-month high of $25.69. The stock has a market cap of $9.26 billion, a P/E ratio of 27.12, a PEG ratio of 2.31 and a beta of 1.36. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.89.

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 9.45%. During the same quarter last year, the business earned $0.65 earnings per share. As a group, research analysts anticipate that Franklin Resources will post 2.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Franklin Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Franklin Resources in the 4th quarter valued at $53,676,000. Two Sigma Advisers LP grew its position in shares of Franklin Resources by 173.7% during the 4th quarter. Two Sigma Advisers LP now owns 3,531,700 shares of the closed-end fund's stock worth $71,658,000 after buying an additional 2,241,500 shares during the period. Two Sigma Investments LP boosted its stake in Franklin Resources by 132.7% in the fourth quarter. Two Sigma Investments LP now owns 2,935,292 shares of the closed-end fund's stock valued at $59,557,000 after acquiring an additional 1,673,971 shares during the last quarter. First Trust Advisors LP grew its holdings in Franklin Resources by 33.1% during the 4th quarter. First Trust Advisors LP now owns 6,438,863 shares of the closed-end fund's stock worth $130,645,000 after acquiring an additional 1,599,849 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Franklin Resources by 19.6% during the 4th quarter. ProShare Advisors LLC now owns 9,403,875 shares of the closed-end fund's stock valued at $190,805,000 after acquiring an additional 1,542,478 shares during 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.