Franklin Resources (NYSE:BEN) Stock Rating Lowered by StockNews.com

Franklin Resources (NYSE:BEN) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Other equities analysts have also issued reports about the company. Morgan Stanley reduced 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. JPMorgan Chase & Co. decreased their price objective on shares of Franklin Resources from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday. Wells Fargo & Company raised their target price on shares of Franklin Resources from $19.00 to $19.50 and gave the company an “equal weight” rating in a research note on Tuesday. Keefe, Bruyette & Woods restated an “underperform” rating and set a $19.00 target price (down previously from $20.00) on shares of Franklin Resources in a report on Tuesday. Finally, Barclays lowered their price target on Franklin Resources from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Monday, October 14th. Six equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.20.

Franklin Resources Stock Performance

Shares of BEN stock opened at $21.29 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 2.71 and a beta of 1.38. Franklin Resources has a one year low of $18.94 and a one year high of $30.32. The company has a 50 day moving average price of $20.25 and a 200 day moving average price of $21.95.

Franklin Resources (NYSE:BEN) last released its quarterly earnings data on Monday, November 4th. The closed-end fund reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Franklin Resources had a return on equity of 9.61% and a net margin of 5.48%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the company earned $0.84 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. Sell-side analysts anticipate that Franklin Resources will post 2.53 EPS for the current year.

Insider Transactions at Franklin Resources

In other Franklin Resources news, CEO Jennifer M. Johnson acquired 18,900 shares of the stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $20.95 per share, for a total transaction of $395,955.00. Following the purchase, the chief executive officer now directly owns 216,900 shares in the company, valued at $4,544,055. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Jennifer M. Johnson acquired 18,900 shares of Franklin Resources stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $20.95 per share, for a total transaction of $395,955.00. Following the purchase, the chief executive officer now directly owns 216,900 shares of the company’s stock, valued at $4,544,055. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer M. Johnson bought 12,700 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was bought at an average cost of $19.66 per share, with a total value of $249,682.00. Following the transaction, the chief executive officer now directly owns 2,637,700 shares in the company, valued at approximately $51,857,182. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 231,600 shares of company stock valued at $4,537,637 and have sold 24,024 shares valued at $1,051,375. Corporate 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 company. MFA Wealth Advisors LLC acquired a new stake in shares of Franklin Resources during the 3rd quarter valued at approximately $26,000. Altshuler Shaham Ltd bought a new stake in Franklin Resources during the second quarter valued at $27,000. Matrix Trust Co bought a new stake in Franklin Resources during the third quarter valued at $29,000. Sentry Investment Management LLC acquired a new position in shares of Franklin Resources in the 2nd quarter valued at about $30,000. Finally, Headlands Technologies LLC acquired a new position in shares of Franklin Resources in the 1st quarter valued at about $32,000. Institutional investors 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.