Confidence in Franklin Resources (NYSE:BEN) Shares by Citigroup Fall.

Franklin Resources, Inc. (NYSE:BEN) Logo

Investors sentiment increased to 0.83 in Q3 2018. Its up 0.02, from 0.81 in 2018Q2. It increased, as 47 investors sold Franklin Resources, Inc. shares while 174 reduced holdings. 57 funds opened positions while 126 raised stakes. 235.66 million shares or 1.20% less from 238.53 million shares in 2018Q2 were reported.

National Bank reported 50,698 shares or 0.02% of all its holdings. Commonwealth Of Pennsylvania School Empls Retrmt holds 0.01% of its portfolio in Franklin Resources, Inc. (NYSE:BEN) for 25,086 shares. Focused Wealth Management has invested 0.04% in Franklin Resources, Inc. (NYSE:BEN). The New York-based Douglass Winthrop Advisors Limited has invested 0.16% in Franklin Resources, Inc. (NYSE:BEN). First Hawaiian Bank stated it has 0.02% in Franklin Resources, Inc. (NYSE:BEN). Prospector Ptnrs Llc holds 0.09% or 21,408 shares in its portfolio. Grassi Inv Mngmt holds 0.05% in Franklin Resources, Inc. (NYSE:BEN) or 10,800 shares. Ancora Advsrs Ltd Liability Corporation, a Us-based fund reported 300 shares. Fjarde Ap accumulated 97,621 shares. Nomura Asset Management has 0.03% invested in Franklin Resources, Inc. (NYSE:BEN). Pinnacle Associate holds 21,984 shares. Sigma Planning holds 0.02% or 12,382 shares in its portfolio. Livforsakringsbolaget Skandia Omsesidigt stated it has 0.01% of its portfolio in Franklin Resources, Inc. (NYSE:BEN). Canada Pension Plan Inv Board stated it has 0% of its portfolio in Franklin Resources, Inc. (NYSE:BEN). Caisse De Depot Et Placement Du Quebec holds 0% of its portfolio in Franklin Resources, Inc. (NYSE:BEN) for 18,208 shares.

Since August 31, 2018, it had 0 insider buys, and 4 insider sales for $17.59 million activity. Tyle Craig Steven also sold $350,005 worth of Franklin Resources, Inc. (NYSE:BEN) shares. Plafker Jed A. sold 4,820 shares worth $158,315.

Franklin Resources (NYSE:BEN) Receives a Downgrade

Citigroup lowered the rating for shares of Franklin Resources (NYSE:BEN) to a”Sell” from a “Neutral”. This rating change was revealed to investors and clients in an analyst report earlier today.

Franklin Resources, Inc. (NYSE:BEN) Ratings Coverage

Among 9 analysts covering Franklin Resources (NYSE:BEN), 0 have Buy rating, 6 Sell and 3 Hold. Therefore 0 are positive. Franklin Resources has $34 highest and $26 lowest target. $30.14’s average target is -0.79% below currents $30.38 stock price. Franklin Resources had 12 analyst reports since July 30, 2018 according to SRatingsIntel. The stock of Franklin Resources, Inc. (NYSE:BEN) has “Underperform” rating given on Friday, October 26 by Credit Suisse. The company was maintained on Monday, October 8 by UBS. The stock of Franklin Resources, Inc. (NYSE:BEN) earned “Hold” rating by Deutsche Bank on Thursday, October 11. On Friday, November 16 the stock rating was maintained by Deutsche Bank with “Hold”. The firm earned “Market Perform” rating on Monday, July 30 by Wells Fargo. The company was maintained on Thursday, September 27 by Deutsche Bank. Barclays Capital maintained it with “Underweight” rating and $30 target in Monday, July 30 report. The rating was maintained by Morgan Stanley with “Underweight” on Thursday, August 2. The company was downgraded on Tuesday, January 8 by Evercore. The rating was maintained by Deutsche Bank on Thursday, August 16 with “Hold”.

The stock increased 0.15% or $0.05 during the last trading session, reaching $30.38. About 2.14M shares traded. Franklin Resources, Inc. (NYSE:BEN) has declined 21.73% since January 14, 2018 and is downtrending. It has underperformed by 21.73% the S&P500.

Analysts await Franklin Resources, Inc. (NYSE:BEN) to report earnings on January, 29. They expect $0.73 earnings per share, down 17.05 % or $0.15 from last year’s $0.88 per share. BEN’s profit will be $373.89 million for 10.40 P/E if the $0.73 EPS becomes a reality. After $0.79 actual earnings per share reported by Franklin Resources, Inc. for the previous quarter, Wall Street now forecasts -7.59 % negative EPS growth.

Franklin Resources, Inc. is a publicly owned asset management holding company. The company has market cap of $15.56 billion. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It has a 21.85 P/E ratio. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.

Franklin Resources, Inc. (NYSE:BEN) Institutional Positions Chart

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