ValuEngine Downgrades Franklin Resources (BEN) to Hold
Franklin Resources (NYSE:BEN) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday.
Other analysts have also recently issued reports about the company. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Thursday, January 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Franklin Resources in a research report on Friday, December 22nd. Wells Fargo & Co cut their price objective on Franklin Resources from $50.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, October 27th. UBS Group raised their price objective on Franklin Resources from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Finally, Citigroup cut their price objective on Franklin Resources from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $44.45.
Shares of Franklin Resources (NYSE BEN) opened at $42.07 on Friday. Franklin Resources has a 52-week low of $39.38 and a 52-week high of $47.65. The stock has a market capitalization of $23,568.78, a P/E ratio of 35.96, a PEG ratio of 1.48 and a beta of 1.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.75 and a quick ratio of 8.75.
In other Franklin Resources news, Chairman Gregory E. Johnson sold 49,988 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $43.58, for a total transaction of $2,178,477.04. Following the transaction, the chairman now owns 2,116,886 shares in the company, valued at approximately $92,253,891.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $42.95, for a total value of $17,180,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 457,778 shares of company stock worth $19,700,614. 22.20% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Mountain Capital Investment Advisors Inc bought a new position in Franklin Resources during the 2nd quarter worth $123,000. Cerebellum GP LLC bought a new position in Franklin Resources during the 4th quarter worth $125,000. Benjamin F. Edwards & Company Inc. bought a new position in Franklin Resources during the 3rd quarter worth $127,000. Chicago Equity Partners LLC bought a new position in Franklin Resources during the 3rd quarter worth $209,000. Finally, Highbridge Capital Management LLC bought a new position in Franklin Resources during the 3rd quarter worth $210,000. Hedge funds and other institutional investors own 44.87% of the company’s stock.
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Franklin Resources Company Profile
Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.
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