Streetbeat News

BEN

Franklin Resources, Inc.

https://www.franklinresources.com

Industry

Asset Management

Franklin Resources, Inc. is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries. The firm invests in the public equity, fixed income, and alternative markets. Franklin Resources, Inc. was founded in 1947 and is based in San Mateo, California with an additional office in Hyderabad, India.

Open

21.79

Mkt cap

11B

Volume

2.5M

High

21.84

P/E Ratio

25.55

52-wk high

30.32

Low

21.55

Div yield

0.06

52-wk low

18.95

Western Asset Management, a subsidiary of Franklin Resources, has appointed Michael Buchanan as the new Chief Investment Officer, succeeding Ken Leech who is on leave. Buchanan will lead all global investment management responsibilities.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 1:13 pm

Shares of companies within the broader financial sector are trading lower amid overall weakness following concerns about recently issued US economic data.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 2:52 pm

Deutsche Bank analyst Brian Bedell maintains a Hold rating on Franklin Resources (NYSE:BEN) and lowers the price target from $24 to $23.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 5:08 pm

TD Cowen analyst Bill Katz maintains a Hold rating on Franklin Resources (NYSE:BEN) and raises the price target from $23 to $24.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 5:03 pm

Analysts have provided mixed ratings for Franklin Resources (NYSE:BEN) over the past three months, with a majority being indifferent. The average 12-month price target has decreased by 6.32% to $24.0. Analysts from Keefe, Bruyette & Woods, BMO Capital, UBS, and TD Cowen have all lowered their price targets and ratings. Franklin Resources has shown revenue growth but lags behind industry peers in net margin, ROE, and ROA.

Portfolio Pulse from Benzinga Insights

July 29, 2024 | 3:01 pm

Keefe, Bruyette & Woods analyst Aidan Hall maintains an Underperform rating on Franklin Resources (NYSE:BEN) and lowers the price target from $25 to $23.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 2:28 pm

BMO Capital analyst Etienne Ricard maintains a Market Perform rating on Franklin Resources (NYSE:BEN) but lowers the price target from $27 to $26.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 11:55 am

Wall Street experienced a late-week rally driven by positive inflation data and strong corporate earnings. The Dow Jones surged 1.9%, marking its best session of 2024, while the Nasdaq 100 and Russell 2000 also posted gains. Investors are confident in a Fed rate cut in September. Key movers included 3M, Aon, Avantor, and Newell Brands.

Portfolio Pulse from Piero Cingari

July 26, 2024 | 5:51 pm

Franklin Resources (NYSE:BEN) reported Q3 2024 adjusted EPS of $0.60, beating the $0.57 estimate. Sales were $2.12 billion, surpassing the $1.66 billion estimate and showing a 7.82% increase from last year's $1.97 billion.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2024 | 12:34 pm

Franklin Templeton and Japan's SBI Holdings are launching a digital asset management company to prepare for potential Bitcoin ETFs in Japan. Franklin Templeton, with $1.6 trillion in assets, will hold a 49% stake, while SBI will hold 51%. The venture aims to offer crypto ETF products and digital asset securities once approved by Japan's Financial Services Agency.

Portfolio Pulse from Benzinga Neuro

July 26, 2024 | 4:28 am

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