Morgan Stanley Downgrades Franklin Resources to Underweight

Brokerage firm Morgan Stanley Downgrades its rating on Franklin Resources(BEN). The shares have been rated Underweight. Previously, the analysts had a Equal-Weight rating on the shares. The rating by the stock financial advisor at Morgan Stanley was issued on Mar 17, 2017 in a research report to their Investors and Clients.

In a different note, On Mar 16, 2017, Bank of America said it Upgrades its rating on Franklin Resources. The shares have been rated ‘Buy’ by the firm. On Feb 24, 2017, Deutsche Bank said it Upgrades its rating on Franklin Resources. The shares have been rated ‘Hold’ by the firm.

Franklin Resources (BEN) made into the market gainers list on Wednesdays trading session with the shares advancing 0.05% or 0.02 points. Due to strong positive momentum, the stock ended at $41.37, which is also near the day’s high of $41.545. The stock began the session at $40.98 and the volume stood at 23,02,075 shares. The 52-week high of the shares is $44.35 and the 52 week low is $30.56. The company has a current market capitalization of $23,387 M and it has 56,53,21,260 shares in outstanding.

Franklin Resources(BEN) last announced its earnings results on Jan 27, 2017 for Fiscal Year 2017 and Q1.Company reported revenue of $1.561B. Analysts had an estimated revenue of $1.600B. Earnings per share were $0.77. Analysts had estimated an EPS of $0.68.

Several Insider Transactions has been reported to the SEC. On Mar 16, 2017, Jennifer M Johnson (President and COO) sold 16,835 shares at $43.90 per share price.Also, On Feb 27, 2017, Gregory E Johnson (Chairman and CEO) sold 25,000 shares at $43.18 per share price.On Dec 19, 2016, Kenneth A Lewis (EVP and CFO) sold 1,866 shares at $39.25 per share price, according to the Form-4 filing with the securities and exchange commission.

Franklin Resources Inc. (Franklin) 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. It 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. The Company’s investment management and related services include fund administration shareholder services transfer agency underwriting distribution custodial trustee and other fiduciary services. Its sponsored investment products include a range of equity hybrid fixed-income and cash management funds and accounts including alternative investment products.

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