Franklin Resources (NYSE:BEN) Cut to “Hold” at Wall Street Zen

Franklin Resources (NYSE:BEN) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also recently weighed in on BEN. Morgan Stanley raised their price target on Franklin Resources from $21.00 to $22.00 and gave the company an “underweight” rating in a report on Tuesday, February 3rd. Evercore upped their price objective on shares of Franklin Resources from $26.00 to $28.00 and gave the stock an “underperform” rating in a research report on Monday, February 2nd. TD Cowen reaffirmed a “hold” rating on shares of Franklin Resources in a research note on Monday, February 2nd. Barclays lifted their target price on shares of Franklin Resources from $22.00 to $25.00 and gave the company an “underweight” rating in a research report on Thursday, January 15th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Franklin Resources in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $25.89.

Franklin Resources Trading Down 1.9%

Franklin Resources stock opened at $23.43 on Friday. The stock has a market cap of $12.20 billion, a P/E ratio of 21.69, a PEG ratio of 0.76 and a beta of 1.46. Franklin Resources has a fifty-two week low of $16.25 and a fifty-two week high of $28.32. The firm’s fifty day moving average price is $26.17 and its 200-day moving average price is $24.37. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.86 and a current ratio of 1.86.

Franklin Resources (NYSE:BEN) last posted its quarterly earnings data on Friday, January 30th. The closed-end fund reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.15. Franklin Resources had a return on equity of 9.58% and a net margin of 6.97%.The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the company earned $0.59 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Equities research analysts forecast that Franklin Resources will post 2.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Franklin Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEN. Jackson Creek Investment Advisors LLC purchased a new position in Franklin Resources during the 3rd quarter valued at about $1,328,000. United Community Bank lifted its holdings in Franklin Resources by 172.1% in the 3rd quarter. United Community Bank now owns 34,069 shares of the closed-end fund’s stock worth $788,000 after buying an additional 21,547 shares during the period. iA Global Asset Management Inc. purchased a new stake in Franklin Resources in the 3rd quarter worth approximately $522,000. AlphaQuest LLC grew its position in shares of Franklin Resources by 34,715.9% in the 3rd quarter. AlphaQuest LLC now owns 89,825 shares of the closed-end fund’s stock worth $2,078,000 after buying an additional 89,567 shares during the last quarter. Finally, Machina Capital S.A.S. purchased a new position in shares of Franklin Resources during the third quarter valued at approximately $840,000. 47.56% of the stock is currently owned by institutional investors.

About Franklin Resources

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm’s core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton’s product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.