Franklin Resources (NYSE:BEN) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Franklin Resources (NYSE:BEN) had its price objective hoisted by research analysts at Morgan Stanley from $31.00 to $34.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the closed-end fund’s stock. Morgan Stanley’s price target would suggest a potential upside of 3.71% from the stock’s previous close.

Several other research firms have also recently weighed in on BEN. Wall Street Zen raised Franklin Resources from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. Barclays set a $31.00 price objective on Franklin Resources and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Evercore reissued an “underperform” rating and issued a $32.00 target price on shares of Franklin Resources in a report on Monday, June 8th. The Goldman Sachs Group raised their target price on Franklin Resources from $30.50 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, TD Cowen boosted their price target on Franklin Resources from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.67.

Franklin Resources Stock Performance

Shares of BEN stock opened at $32.78 on Friday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.10. The company has a 50 day moving average price of $30.80 and a 200-day moving average price of $27.18. Franklin Resources has a 52 week low of $21.10 and a 52 week high of $34.42. The firm has a market capitalization of $17.04 billion, a PE ratio of 25.05, a P/E/G ratio of 0.85 and a beta of 1.55.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Tuesday, April 28th. The closed-end fund reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.16. Franklin Resources had a net margin of 8.12% and a return on equity of 10.58%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities research analysts expect that Franklin Resources will post 2.77 earnings per share for the current year.

Institutional Trading of Franklin Resources

Several institutional investors have recently made changes to their positions in BEN. Danske Bank A S bought a new stake in Franklin Resources during the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. boosted its stake in Franklin Resources by 277.0% in the 4th quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund’s stock worth $27,000 after purchasing an additional 845 shares during the period. Motiv8 Investments LLC bought a new position in Franklin Resources in the 4th quarter worth approximately $28,000. Leonteq Securities AG purchased a new stake in Franklin Resources during the 4th quarter valued at approximately $30,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Franklin Resources by 129.1% during the third quarter. EverSource Wealth Advisors LLC now owns 1,313 shares of the closed-end fund’s stock valued at $30,000 after buying an additional 740 shares during the last quarter. Hedge funds and other institutional investors own 47.56% of the company’s stock.

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.