Franklin Resources (NYSE:BEN) Cut to “Hold” at Zacks Research

Franklin Resources (NYSE:BEN) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on BEN. Wall Street Zen raised shares of Franklin Resources from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. The Goldman Sachs Group upped their price target on shares of Franklin Resources from $30.50 to $34.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of Franklin Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $34.00 price objective on shares of Franklin Resources in a report on Monday, August 3rd. Finally, Barclays upped their target price on shares of Franklin Resources from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Franklin Resources currently has an average rating of “Hold” and a consensus price target of $32.44.

Franklin Resources Trading Up 0.1%

NYSE:BEN opened at $35.06 on Tuesday. The stock has a market cap of $17.81 billion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 0.70 and a beta of 1.55. Franklin Resources has a one year low of $21.10 and a one year high of $36.28. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.48 and a current ratio of 1.48. The business’s 50-day simple moving average is $33.63 and its 200 day simple moving average is $29.90.

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. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%.The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm earned $0.49 EPS. Franklin Resources’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts predict that Franklin Resources will post 2.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Franklin Resources

Several large investors have recently added to or reduced their stakes in the company. Compass Financial Management LLC acquired a new stake in shares of Franklin Resources during the second quarter worth $36,000. Danske Bank A S acquired a new position in shares of Franklin Resources in the 4th quarter valued at about $26,000. Motiv8 Investments LLC bought a new stake in shares of Franklin Resources during the 4th quarter valued at about $28,000. Leonteq Securities AG bought a new stake in shares of Franklin Resources during the 4th quarter valued at about $30,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in Franklin Resources during the fourth quarter worth about $32,000. 47.56% of the stock is currently owned by institutional investors.

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.