Franklin Resources (NYSE:BEN) Price Target Lowered to $19.00 at Deutsche Bank Aktiengesellschaft

Franklin Resources (NYSE:BEN) had its price target decreased by analysts at Deutsche Bank Aktiengesellschaft from $20.00 to $19.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the closed-end fund’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential downside of 6.08% from the company’s previous close.

Several other research firms have also commented on BEN. Morgan Stanley dropped their price target on shares of Franklin Resources from $21.00 to $19.00 and set an “underweight” rating on the stock in a research report on Friday, October 18th. UBS Group dropped their target price on shares of Franklin Resources from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. The Goldman Sachs Group reduced their price target on shares of Franklin Resources from $23.75 to $21.25 and set a “sell” rating for the company in a research report on Monday, September 30th. Evercore ISI cut their price objective on Franklin Resources from $20.00 to $19.00 and set an “underperform” rating for the company in a research note on Friday, October 4th. Finally, TD Cowen lifted their price target on Franklin Resources from $23.00 to $24.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.03.

Franklin Resources Price Performance

Shares of BEN opened at $20.23 on Tuesday. Franklin Resources has a fifty-two week low of $18.94 and a fifty-two week high of $30.32. The company has a 50 day moving average price of $20.20 and a 200-day moving average price of $21.99. The stock has a market capitalization of $10.58 billion, a PE ratio of 12.41, a PEG ratio of 2.81 and a beta of 1.38. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.71 and a current ratio of 1.71.

Franklin Resources (NYSE:BEN) last issued its earnings results on Monday, November 4th. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Franklin Resources had a return on equity of 10.60% and a net margin of 10.24%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS. Equities analysts predict that Franklin Resources will post 2.41 earnings per share for the current fiscal year.

Insider Transactions at Franklin Resources

In other Franklin Resources news, major shareholder Charles B. Johnson acquired 100,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average cost of $19.84 per share, for a total transaction of $1,984,000.00. Following the completion of the transaction, the insider now owns 89,208,192 shares of the company’s stock, valued at approximately $1,769,890,529.28. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Charles B. Johnson bought 100,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were bought at an average price of $19.84 per share, with a total value of $1,984,000.00. Following the completion of the transaction, the insider now directly owns 89,208,192 shares of the company’s stock, valued at $1,769,890,529.28. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer M. Johnson purchased 12,700 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were bought at an average price of $19.66 per share, with a total value of $249,682.00. Following the completion of the transaction, the chief executive officer now owns 2,637,700 shares of the company’s stock, valued at approximately $51,857,182. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 231,600 shares of company stock worth $4,537,637 and sold 24,024 shares worth $1,051,375. Insiders own 24.13% of the company’s stock.

Institutional Trading of Franklin Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC acquired a new stake in shares of Franklin Resources in the third quarter valued at $26,000. Altshuler Shaham Ltd purchased a new position in Franklin Resources during the 2nd quarter valued at about $27,000. Matrix Trust Co acquired a new position in Franklin Resources in the 3rd quarter valued at about $29,000. Sentry Investment Management LLC acquired a new stake in shares of Franklin Resources during the second quarter worth about $30,000. Finally, Headlands Technologies LLC purchased a new position in Franklin Resources in the 1st quarter valued at approximately $32,000. Hedge funds and other 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.