Franklin Resources (NYSE:BEN) has been assigned a $32.00 price objective by investment analysts at Bank of America in a report issued on Tuesday, TipRanks reports. The firm presently has a “sell” rating on the closed-end fund’s stock. Bank of America‘s price target would indicate a potential downside of 8.52% from the company’s current price.

Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Wednesday, April 3rd. ValuEngine upgraded shares of Franklin Resources from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Morgan Stanley set a $28.00 target price on shares of Franklin Resources and gave the stock a “sell” rating in a research note on Friday, February 8th. Barclays reiterated a “sell” rating and issued a $23.00 price target on shares of Franklin Resources in a research note on Thursday, January 10th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $28.00 price target on shares of Franklin Resources in a research note on Wednesday, January 9th. Seven equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $30.01.

BEN stock opened at $34.98 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.93 and a current ratio of 3.93. Franklin Resources has a fifty-two week low of $27.34 and a fifty-two week high of $35.26. The company has a market cap of $17.46 billion, a P/E ratio of 10.97, a PEG ratio of 2.01 and a beta of 1.18.

Franklin Resources (NYSE:BEN) last released its earnings results on Wednesday, January 30th. The closed-end fund reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.10). Franklin Resources had a return on equity of 15.01% and a net margin of 26.55%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. Analysts anticipate that Franklin Resources will post 2.44 EPS for the current year.

In other news, EVP Craig Steven Tyle sold 10,663 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $32.82, for a total value of $349,959.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 22.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Alpha Omega Wealth Management LLC lifted its position in Franklin Resources by 120.8% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 1,325 shares of the closed-end fund’s stock worth $39,000 after acquiring an additional 725 shares in the last quarter. Vigilant Capital Management LLC purchased a new stake in Franklin Resources during the 1st quarter worth approximately $39,000. Clean Yield Group purchased a new stake in Franklin Resources during the 4th quarter worth approximately $44,000. CWM LLC increased its holdings in Franklin Resources by 22.5% during the 4th quarter. CWM LLC now owns 1,772 shares of the closed-end fund’s stock worth $53,000 after purchasing an additional 325 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in Franklin Resources by 102.2% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,943 shares of the closed-end fund’s stock worth $58,000 after purchasing an additional 982 shares during the last quarter. Hedge funds and other institutional investors own 49.53% of the company’s stock.

About Franklin Resources

Franklin Resources, Inc offers banking products and services. It offers demand deposits and interest and non-interest bearing time and savings deposits. The bank's deposits include jumbo deposits and retail time deposits. The bank provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

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Analyst Recommendations for Franklin Resources (NYSE:BEN)

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