Barclays Raises Franklin Resources (NYSE:BEN) Price Target to $36.00

Franklin Resources (NYSE:BEN) had its price objective hoisted by stock analysts at Barclays from $34.00 to $36.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the closed-end fund’s stock. Barclays‘s target price would suggest a potential upside of 6.15% from the stock’s previous close.

Several other equities analysts have also recently weighed in on BEN. TD Cowen raised their price target on Franklin Resources from $37.00 to $40.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Wall Street Zen upgraded shares of Franklin Resources from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. The Goldman Sachs Group increased their price target on Franklin Resources from $30.50 to $34.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Zacks Research upgraded Franklin Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, June 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Franklin Resources from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Franklin Resources currently has an average rating of “Hold” and an average price target of $32.25.

Franklin Resources Stock Up 0.2%

Shares of BEN stock opened at $33.91 on Monday. The stock has a market cap of $17.62 billion, a P/E ratio of 23.07, a PEG ratio of 0.75 and a beta of 1.54. Franklin Resources has a 52 week low of $21.10 and a 52 week high of $34.92. 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’s fifty day simple moving average is $32.67 and its two-hundred day simple moving average is $28.85.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $1.76 billion. Franklin Resources had a return on equity of 11.52% and a net margin of 8.72%.The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. Analysts predict that Franklin Resources will post 2.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Franklin Resources

Large investors have recently made changes to their positions in the company. Danske Bank A S acquired a new position in Franklin Resources in the 4th quarter worth about $26,000. Rakuten Securities Inc. grew its holdings in Franklin Resources by 277.0% in the fourth quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund’s stock valued at $27,000 after purchasing an additional 845 shares during the period. Motiv8 Investments LLC purchased a new stake in shares of Franklin Resources in the fourth quarter valued at approximately $28,000. Leonteq Securities AG acquired a new position in shares of Franklin Resources during the 4th quarter worth approximately $30,000. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Franklin Resources during the 4th quarter worth approximately $32,000. 47.56% of the stock is currently owned by institutional investors and hedge funds.

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.