BEN - Franklin Resources, Inc.

NYSE - Nasdaq Real-time price. Currency in USD
21.17
+0.07 (+0.32%)
As of 11:17AM EDT. Market open.
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Previous close21.10
Open21.33
Bid21.20 x 1100
Ask21.21 x 1000
Day's range20.95 - 21.40
52-week range14.91 - 35.77
Volume658,917
Avg. volume4,327,934
Market cap10.484B
Beta (5Y monthly)1.31
PE ratio (TTM)10.82
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield1.08 (5.12%)
Ex-dividend date14 Jul 2020
1y target estN/A
  • Business Wire

    Franklin Resources, Inc. Announces Month-End Assets Under Management

    Franklin Resources, Inc. (Franklin Templeton) (NYSE: BEN) today reported preliminary month-end assets under management of $622.8 billion at June 30, 2020, compared to $617.6 billion at May 31, 2020. The increase in assets under management was due to market gains that more than offset modest outflows. Preliminary average assets under management for the quarter ended June 30, 2020, were $605.0 billion.*

  • Why Franklin Resources (BEN) Stock Might be a Great Pick
    Zacks

    Why Franklin Resources (BEN) Stock Might be a Great Pick

    Franklin Resources (BEN) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.

  • Why Franklin Resources (BEN) Could Beat Earnings Estimates Again
    Zacks

    Why Franklin Resources (BEN) Could Beat Earnings Estimates Again

    Franklin Resources (BEN) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

  • Top Ranked Value Stocks to Buy for July 2nd
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  • Should Value Investors Buy Franklin Resources (BEN) Stock?
    Zacks

    Should Value Investors Buy Franklin Resources (BEN) Stock?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

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  • Can Franklin Resources (BEN) Run Higher on Strong Earnings Estimate Revisions?
    Zacks

    Can Franklin Resources (BEN) Run Higher on Strong Earnings Estimate Revisions?

    Franklin Resources (BEN) is seeing positive earnings estimate revisions, suggesting that it could be a solid choice for investors.

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  • Report: Chesapeake Energy is on the Verge of Filing for Bankruptcy
    Motley Fool

    Report: Chesapeake Energy is on the Verge of Filing for Bankruptcy

    Chesapeake Energy (NYSE: CHK) is preparing to file for bankruptcy within the next week, according to a report by Reuters. According to the report, Chesapeake is putting the finishing touches on about $900 million of debtor-in-possession financing, which will support its operations during the bankruptcy process. The company is also working with creditors on a plan that would eliminate a substantial portion of its burdensome $9 billion debt load in exchange for an equity infusion.

  • Will Franklin Resources Continue to Surge Higher?
    Zacks

    Will Franklin Resources Continue to Surge Higher?

    As of late, it has definitely been a great time to be an investor of Franklin Resources

  • 6 Reasons That Make Franklin (BEN) Stock Investment Worthy
    Zacks

    6 Reasons That Make Franklin (BEN) Stock Investment Worthy

    Franklin (BEN) stock looks worth investing in now, given its organic and inorganic growth efforts.

  • How Franklin Resources (BEN) Stock Stands Out in a Strong Industry
    Zacks

    How Franklin Resources (BEN) Stock Stands Out in a Strong Industry

    Franklin Resources (BEN) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.

  • Surging Earnings Estimates Signal Upside for Franklin Resources (BEN) Stock
    Zacks

    Surging Earnings Estimates Signal Upside for Franklin Resources (BEN) Stock

    Franklin Resources (BEN) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

  • Franklin's (BEN) May AUM Grows on Stellar Market Returns
    Zacks

    Franklin's (BEN) May AUM Grows on Stellar Market Returns

    Franklin's (BEN) preliminary assets under management (AUM) of $617.6 billion for May rise sequentially on positive market returns.

  • Is Franklin Resources (BEN) Stock Undervalued Right Now?
    Zacks

    Is Franklin Resources (BEN) Stock Undervalued Right Now?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

  • Why Is Franklin Resources (BEN) Up 0.2% Since Last Earnings Report?
    Zacks

    Why Is Franklin Resources (BEN) Up 0.2% Since Last Earnings Report?

    Franklin Resources (BEN) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • Legg Mason's Shareholders Agree to Merge With Franklin (BEN)
    Zacks

    Legg Mason's Shareholders Agree to Merge With Franklin (BEN)

    Legg Mason (LM) shareholders approve the merger with Franklin Resources (BEN), announced this February.

  • Franklin's (BEN) April AUM Grows on Positive Market Returns
    Zacks

    Franklin's (BEN) April AUM Grows on Positive Market Returns

    Franklin's (BEN) preliminary assets under management (AUM) of $599.4 billion for April rise sequentially on positive market returns.

  • Franklin Resources Inc. (BEN) Q2 2020 Earnings Call Transcript
    Motley Fool

    Franklin Resources Inc. (BEN) Q2 2020 Earnings Call Transcript

    Welcome to the Franklin Resources earnings conference call for the quarter ended March 31, 2020. Statements made in this conference call regarding Franklin Resources, Inc., which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. At this time, I would like to turn the call over to Franklin Resources' President and CEO, Jenny Johnson.

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  • Franklin Escapes Fund Purgatory With Legg Mason Purchase
    Bloomberg

    Franklin Escapes Fund Purgatory With Legg Mason Purchase

    (Bloomberg Opinion) -- In the asset-management industry, reputation is everything. A mutual-fund manager might have a fantastic strategy, but without a steady stream of cash flowing in to set up the position, returns may come in weaker than expected. That, in turn, could lead some investors to lose confidence that the concept was ever great in the first place.That, in a nutshell, is what happened to Franklin Resources Inc. over the last several years. The company has been stuck near $700 billion in assets under management for the past 18 months, down from a peak of $921 billion in mid-2014, while its competitors have grown steadily. Moody’s Investors Service downgraded Franklin’s credit rating in mid-2018 and last year “expressed concern that Franklin's reputation for global/international strategies and solid relative investment performance has been undermined.” That’s not quite a death knell, but it’s close. Faced with that grim reality, Franklin made the obvious move: It got bigger in a hurry. On Tuesday, it announced an agreement to acquire asset manager Legg Mason Inc. for almost $4.5 billion. The deal would create a $1.5 trillion behemoth whose size trails only BlackRock Inc., Vanguard Group Inc., Fidelity Investments, Capital Group Cos. and Amundi Asset Management among “independent asset managers,” according to Willis Towers Watson data cited by Franklin. It would leap ahead of Invesco Ltd and T. Rowe Price Group Inc. in this arms race. (The ranking format conspicuously excludes investing giants tied to Wall Street banks like Goldman Sachs Group Inc. and JPMorgan Chase & Co., or those affiliated with insurers, like Allianz Group and Prudential Financial.)At first glance, the takeaway is that the entire asset-management industry is consolidating because of the rise in passive, low-cost index funds, and Franklin’s move is just the latest example. While that’s true, the combination of these two firms in particular suggests that in the current investing landscape, fund companies can either choose to be the biggest, or they can elect to remain small, nimble and specialized, but falling somewhere in the middle is purgatory. Neither firm is accustomed to being viewed as a second- or third-tier money manager. After all, Franklin, which leans into its affiliation with one of America’s iconic founding fathers, started in 1947, while Legg Mason’s precursor firm dates back to the 19th century. And yet, both Legg Mason and Franklin have fallen way behind the top firms, and Franklin in particular was at risk of slipping even further away from the next group of asset managers.Franklin’s website declares it’s “a global leader in asset management with more than seven decades of experience.” At what ranking does being a “global leader” no longer hold up? The company clearly wasn’t interested in finding out.With the purchase, Franklin will strike an almost perfect balance between institutional and retail investors, which may help mitigate volatility in fund flows. Notably, it expects to maintain a nearly identical geographic focus, which is important given that some of its flagship offerings are worldwide in scope. For example, the $26.3 billion Templeton Global Bond Fund holds a large position in Brazil’s bonds, and both Franklin and Legg Mason have a presence in Sao Paulo. Even as active managers grow, they need to retain their identity.The acquisition also braces for an uncertain future. Legg Mason recently made headlines for announcing plans to take a majority stake in Precidian, known for its ActiveShares exchange-traded funds. If successful, the products could upend the mutual-fund industry because they would trade daily and yet require reporting only once a quarter. Analysts have suggested some $7.2 trillion in mutual-fund strategies could work in this format. Franklin took too long to get on the ETF bandwagon years ago and appears eager not to make a similar misjudgment.Now, one big move probably won’t be enough to bring Franklin back to its glory days. But by combining with Legg Mason, it at least has more than a puncher’s chance to reclaim its place as a leader in active management. Traders certainly seem optimistic: Franklin’s shares rose as much as 13.3% on Tuesday to $27.60, the biggest intraday jump since November 2016.The onus is now on Franklin’s fund managers to live up to their reputations. If there were any malaise in the air over in San Mateo, Calfornia, about the company’s future, management has alleviated it for now. Franklin is back in the game.(Corrects the size of the combined entity in the third paragraph. )To contact the author of this story: Brian Chappatta at bchappatta1@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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