Franklin Resources (NYSE:BEN) Price Target Lowered to $21.00 at UBS Group

Franklin Resources (NYSE:BEN) had its target price decreased by equities research analysts at UBS Group from $24.00 to $21.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the closed-end fund’s stock. UBS Group’s target price would indicate a potential upside of 3.30% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Morgan Stanley cut their target price on shares of Franklin Resources from $21.00 to $19.00 and set an “underweight” rating for the company in a report on Friday. Wells Fargo & Company cut their price target on shares of Franklin Resources from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $23.00 price target on shares of Franklin Resources in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Franklin Resources from $24.00 to $23.00 and set a “hold” rating for the company in a report on Monday, July 29th. Finally, TD Cowen boosted their price target on shares of Franklin Resources from $23.00 to $24.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Five analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.43.

Franklin Resources Stock Performance

Shares of NYSE:BEN traded down $0.21 during trading on Tuesday, hitting $20.33. 655,482 shares of the stock traded hands, compared to its average volume of 3,987,271. 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 company has a market cap of $10.70 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 2.29 and a beta of 1.39. The company has a fifty day moving average price of $20.42 and a two-hundred day moving average price of $22.37. Franklin Resources has a 52-week low of $18.94 and a 52-week high of $30.32.

Franklin Resources (NYSE:BEN) last posted its earnings results on Friday, July 26th. The closed-end fund reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.09 billion. Franklin Resources had a net margin of 10.24% and a return on equity of 10.60%. As a group, equities analysts predict that Franklin Resources will post 2.4 EPS for the current year.

Insider Transactions at Franklin Resources

In other news, insider Franklin Resources Inc sold 7,900 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $43.71, for a total transaction of $345,309.00. Following the transaction, the insider now owns 36,519 shares of the company’s stock, valued at approximately $1,596,245.49. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Franklin Resources news, insider Franklin Resources Inc sold 7,900 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $43.71, for a total value of $345,309.00. Following the transaction, the insider now owns 36,519 shares of the company’s stock, valued at $1,596,245.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jennifer M. Johnson bought 12,700 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was bought at an average cost of $19.66 per share, for a total transaction of $249,682.00. Following the transaction, the chief executive officer now directly owns 2,637,700 shares of the company’s stock, valued at $51,857,182. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 231,600 shares of company stock valued at $4,537,637 and 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 large investors have recently bought and sold shares of the stock. US Bancorp DE lifted its position in shares of Franklin Resources by 2.1% during the first quarter. US Bancorp DE now owns 22,082 shares of the closed-end fund’s stock worth $621,000 after purchasing an additional 444 shares in the last quarter. Interval Partners LP lifted its position in shares of Franklin Resources by 0.4% during the second quarter. Interval Partners LP now owns 108,894 shares of the closed-end fund’s stock worth $2,434,000 after purchasing an additional 483 shares in the last quarter. Richardson Financial Services Inc. lifted its position in shares of Franklin Resources by 14.9% during the first quarter. Richardson Financial Services Inc. now owns 4,020 shares of the closed-end fund’s stock worth $113,000 after purchasing an additional 520 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Franklin Resources by 0.7% during the second quarter. State of Michigan Retirement System now owns 88,195 shares of the closed-end fund’s stock worth $1,971,000 after purchasing an additional 600 shares in the last quarter. Finally, Gold Investment Management Ltd. lifted its position in shares of Franklin Resources by 2.5% during the second quarter. Gold Investment Management Ltd. now owns 26,032 shares of the closed-end fund’s stock worth $582,000 after purchasing an additional 644 shares in the last quarter. Institutional investors and hedge funds 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.