Morgan Stanley Boosts Franklin Resources (NYSE:BEN) Price Target to $25.00

Franklin Resources (NYSE:BEN) had its price target raised by research analysts at Morgan Stanley from $24.00 to $25.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the closed-end fund’s stock. Morgan Stanley’s target price would indicate a potential upside of 0.79% from the company’s previous close.

Several other brokerages have also issued reports on BEN. TD Cowen began coverage on Franklin Resources in a research report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 target price for the company. Wells Fargo & Company raised shares of Franklin Resources from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $24.00 to $30.00 in a research report on Monday, January 8th. BMO Capital Markets lifted their price target on shares of Franklin Resources from $27.00 to $30.00 and gave the company a “market perform” rating in a research report on Tuesday, January 30th. StockNews.com cut shares of Franklin Resources from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Franklin Resources from $30.00 to $28.00 and set a “hold” rating for the company in a report on Tuesday, January 30th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.50.

Franklin Resources Stock Up 0.4 %

Shares of NYSE:BEN opened at $24.81 on Wednesday. The stock’s 50-day moving average is $27.14 and its 200 day moving average is $26.28. The company has a market cap of $13.06 billion, a PE ratio of 13.06, a P/E/G ratio of 1.30 and a beta of 1.40. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.92 and a quick ratio of 1.92. Franklin Resources has a 1 year low of $21.88 and a 1 year high of $30.32.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Monday, January 29th. The closed-end fund reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.51 billion. Franklin Resources had a return on equity of 11.15% and a net margin of 12.30%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 earnings per share. Sell-side analysts anticipate that Franklin Resources will post 2.52 EPS for the current year.

Institutional Investors Weigh In On Franklin Resources

Several large investors have recently bought and sold shares of the business. Cooper Financial Group boosted its holdings in shares of Franklin Resources by 2.6% during the 4th quarter. Cooper Financial Group now owns 14,682 shares of the closed-end fund’s stock valued at $437,000 after acquiring an additional 371 shares during the last quarter. CWM LLC grew its position in Franklin Resources by 4.4% in the 1st quarter. CWM LLC now owns 9,652 shares of the closed-end fund’s stock worth $271,000 after purchasing an additional 410 shares during the period. Verity Asset Management Inc. raised its stake in Franklin Resources by 3.2% during the 4th quarter. Verity Asset Management Inc. now owns 13,129 shares of the closed-end fund’s stock valued at $391,000 after buying an additional 411 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Franklin Resources by 4.9% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,622 shares of the closed-end fund’s stock valued at $287,000 after buying an additional 446 shares during the period. Finally, Whitener Capital Management Inc. boosted its stake in shares of Franklin Resources by 2.4% in the 3rd quarter. Whitener Capital Management Inc. now owns 19,974 shares of the closed-end fund’s stock worth $491,000 after buying an additional 460 shares during the last quarter. 47.56% of the stock is currently owned by 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.