In a report released today, James Fotheringham from BMO Capital maintained a Buy rating on Franklin Resources (BEN), with a price target of $37.00. The company’s shares closed last Wednesday at $32.88.
According to TipRanks.com, Fotheringham is a 5-star analyst with an average return of 20.4% and a 76.4% success rate. Fotheringham covers the Financial sector, focusing on stocks such as International Money Express, Discover Financial Services, and Victory Capital Holdings.
Currently, the analyst consensus on Franklin Resources is a Hold with an average price target of $30.56.
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Based on Franklin Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2 billion and net profit of $345 million. In comparison, last year the company earned revenue of $1.39 billion and had a net profit of $351 million.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BEN in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Franklin Resources, Inc. is a holding company, which engages in the provision of investment management and related services. It offers its products and services under the brands of Franklin, Templeton, Franklin Mutual Series, Franklin Bissett, Fiduciary Trust, Darby, Balanced Equity Management, K2, LibertyShares, and Edinburgh Partners. The company was founded by Rupert H. Johnson, Sr. in 1947 and is headquartered in San Mateo, CA.
