The stock of Franklin Resources, Inc. (NYSE:BEN) is a huge mover today! About 2.44M shares traded hands. Franklin Resources, Inc. (NYSE:BEN) has declined 0.78% since February 29, 2016 and is downtrending. It has underperformed by 13.00% the S&P500.
The move comes after 9 months positive chart setup for the $21.18B company. It was reported on Oct, 3 by Barchart.com. We have $52.07 PT which if reached, will make NYSE:BEN worth $9.53B more.
Analysts await Franklin Resources, Inc. (NYSE:BEN) to report earnings on October, 27. They expect $0.67 EPS, up 13.56% or $0.08 from last year’s $0.59 per share. BEN’s profit will be $395.17M for 13.40 P/E if the $0.67 EPS becomes a reality. After $0.77 actual EPS reported by Franklin Resources, Inc. for the previous quarter, Wall Street now forecasts -12.99% negative EPS growth.
Franklin Resources, Inc. (NYSE:BEN) Ratings Coverage
Out of 14 analysts covering Franklin Resources Inc. (NYSE:BEN), 0 rate it a “Buy”, 5 “Sell”, while 9 “Hold”. This means 0 are positive. Franklin Resources Inc. has been the topic of 63 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Underweight” rating given on Tuesday, August 9 by Barclays Capital. Barclays Capital downgraded Franklin Resources, Inc. (NYSE:BEN) rating on Tuesday, December 8. Barclays Capital has “Underweight” rating and $36 price target. The rating was downgraded by Bank of America on Tuesday, March 15 to “Underperform”. The firm has “Underweight” rating given on Wednesday, March 9 by Barclays Capital. The company was maintained on Friday, August 7 by Jefferies. As per Thursday, February 4, the company rating was maintained by RBC Capital Markets. Deutsche Bank upgraded Franklin Resources, Inc. (NYSE:BEN) on Wednesday, September 9 to “Buy” rating. The stock has “Neutral” rating given by Citigroup on Friday, July 29. The stock of Franklin Resources, Inc. (NYSE:BEN) earned “Neutral” rating by JP Morgan on Thursday, April 7. The rating was downgraded by Deutsche Bank to “Hold” on Friday, October 9.
According to Zacks Investment Research, “Franklin Resources provides investment advisory and related services to retail mutual funds, institutional and private accounts, and other investment products globally. Related services include transfer agency, fund administration, custodial, trustee and fiduciary services. The mutual funds and other products that it advise are sold to the public under three brand names: Franklin, Templeton, and Mutual Series.”
Insitutional Activity: The institutional sentiment decreased to 0.8 in Q2 2016. Its down 0.02, from 0.82 in 2016Q1. The ratio turned negative, as 64 funds sold all Franklin Resources, Inc. shares owned while 180 reduced positions. 42 funds bought stakes while 154 increased positions. They now own 275.30 million shares or 7.66% less from 298.13 million shares in 2016Q1.
Macquarie Group Incorporated Limited holds 665,870 shares or 0.04% of its portfolio. Commonwealth Of Pennsylvania School Empls Retrmt Sys holds 0.02% of its portfolio in Franklin Resources, Inc. (NYSE:BEN) for 29,505 shares. Mycio Wealth Partners holds 0% of its portfolio in Franklin Resources, Inc. (NYSE:BEN) for 75 shares. Ftb Advsrs has 3,208 shares for 0.01% of their US portfolio. First Lp last reported 877,358 shares in the company. Winton Gru Ltd accumulated 0.04% or 73,175 shares. Abrams Mngmt Lp has 13.85% invested in the company for 7.95 million shares. Moreover, Profund Advsr Ltd has 0.01% invested in Franklin Resources, Inc. (NYSE:BEN) for 9,215 shares. Mufg Americas Hldgs Corp reported 12,550 shares or 0.01% of all its holdings. Prospector Prtnrs Llc holds 39,808 shares or 0.23% of its portfolio. Bahl & Gaynor has invested 0% of its portfolio in Franklin Resources, Inc. (NYSE:BEN). Brown Advisory has 40,174 shares for 0% of their US portfolio. Parametric Associate Lc has 800,430 shares for 0.04% of their US portfolio. Credit Suisse Ag accumulated 0.1% or 2.57M shares. Sprott last reported 280,000 shares in the company.
Insider Transactions: Since August 24, 2016, the stock had 0 insider buys, and 2 sales for $752,868 net activity. 5,000 shares were sold by Tyle Craig Steven, worth $180,901. JOHNSON JENNIFER M also sold $571,967 worth of Franklin Resources, Inc. (NYSE:BEN) on Thursday, August 25.
More recent Franklin Resources, Inc. (NYSE:BEN) news were published by: Reuters.com which released: “BRIEF-SimCorp signs license agreement with Franklin Templeton” on September 26, 2016. Also Seekingalpha.com published the news titled: “Franklin Resources: Weighing The Good With The Bad” on September 26, 2016. Seekingalpha.com‘s news article titled: “Franklin Resources: Investment Thesis Review, A Year Later” with publication date: September 26, 2016 was also an interesting one.
BEN Company Profile
Franklin Resources, Inc. (Franklin), incorporated on November 28, 1969, is a holding company. Franklin together with its various subsidiaries (collectively, the Company) is referred to as Franklin Templeton Investments, is a global investment management organization offering investment management and related services under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names. The Company’s investment management and related services provides services to investment funds in jurisdictions globally, which include the United States- and non- United States-registered open-end and closed-end funds, unregistered funds, and institutional, high net-worth and separately-managed accounts (collectively, its sponsored investment products). The Companyâ€™s investment management and related services include fund administration, shareholder services, transfer agency, underwriting, distribution, custodial, trustee and other fiduciary services. The Company’s sponsored investment products include a range of equity, hybrid, fixed-income and cash management funds and accounts, including alternative investment products. It also manages certain sub-advised investment products, which may be sold to the public under one of its brand names or that of other companies. Most of the investment funds it manages are open-end mutual funds that offer their shares to investors. It also offers closed-end funds that issue a set number of shares to investors in a public offering and the shares are then traded on a public stock exchange.
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