Franklin Resources Inc. (NYSE:BEN)’s share price gapped up prior to trading on Monday . The stock had previously closed at $35.38, but opened at $35.53. Franklin Resources shares last traded at $35.96, with a volume of 701,707 shares traded.

Several equities research analysts have issued reports on the stock. Deutsche Bank AG restated a “hold” rating on shares of Franklin Resources in a report on Sunday, July 10th. Keefe, Bruyette & Woods upped their price target on shares of Franklin Resources from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Friday, July 29th. Barclays PLC upped their price target on shares of Franklin Resources from $30.00 to $31.00 and gave the company an “underweight” rating in a report on Tuesday, August 9th. Citigroup Inc. upped their price target on shares of Franklin Resources from $37.50 to $38.00 and gave the company a “neutral” rating in a report on Thursday, June 9th. Finally, TheStreet lowered shares of Franklin Resources from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a strong buy rating to the stock. Franklin Resources has an average rating of “Hold” and a consensus price target of $37.81.

The company has a market capitalization of $20.72 billion and a price-to-earnings ratio of 13.31. The stock’s 50 day moving average price is $34.52 and its 200 day moving average price is $35.92.

Franklin Resources (NYSE:BEN) last posted its earnings results on Thursday, July 28th. The closed-end fund reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.10. During the same period in the previous year, the company posted $0.82 EPS. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Franklin Resources’s revenue was down 18.3% on a year-over-year basis. On average, equities research analysts anticipate that Franklin Resources Inc. will post $2.79 earnings per share for the current year.

Other hedge funds and institutional investors have added to or reduced their stakes in the company. Calvert Investment Management Inc. increased its position in Franklin Resources by 40.0% in the fourth quarter. Calvert Investment Management Inc. now owns 28,423 shares of the closed-end fund’s stock worth $1,047,000 after buying an additional 8,121 shares during the last quarter. Advantus Capital Management Inc increased its position in Franklin Resources by 0.4% in the fourth quarter. Advantus Capital Management Inc now owns 36,233 shares of the closed-end fund’s stock worth $1,334,000 after buying an additional 132 shares during the last quarter. TrimTabs Asset Management LLC increased its position in Franklin Resources by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 50,837 shares of the closed-end fund’s stock worth $1,872,000 after buying an additional 948 shares during the last quarter. Matarin Capital Management LLC acquired a new position in Franklin Resources during the fourth quarter worth approximately $2,303,000. Finally, BNP Paribas Arbitrage SA increased its position in Franklin Resources by 17.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 136,475 shares of the closed-end fund’s stock worth $5,025,000 after buying an additional 20,007 shares during the last quarter.

Franklin Resources, Inc (Franklin), is a holding company. Franklin together with its various subsidiaries (collectively, the Company), is referred to as Franklin Templeton Investments, is a global investment management organization offering investment management and related services under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.