BEN - Franklin Resources, Inc.

NYSE - Nasdaq Real-time price. Currency in USD
15.82
-0.87 (-5.18%)
As of 2:44PM EDT. Market open.
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Previous close16.69
Open16.06
Bid15.81 x 800
Ask15.82 x 900
Day's range15.65 - 16.19
52-week range15.29 - 35.82
Volume2,608,785
Avg. volume5,781,124
Market cap7.863B
Beta (5Y monthly)1.25
PE ratio (TTM)6.30
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield1.08 (6.47%)
Ex-dividend date29 Mar 2020
1y target estN/A
  • Franklin's (BEN) February AUM Down on Negative Market Returns
    Zacks

    Franklin's (BEN) February AUM Down on Negative Market Returns

    Franklin Resources' (BEN) preliminary AUM of $656.5 billion for February decline sequentially due to negative market returns.

  • Franklin Closes Athena Capital Buyout With AUM Worth $6B
    Zacks

    Franklin Closes Athena Capital Buyout With AUM Worth $6B

    Franklin's (BEN) acquisition of Lincoln-based Athena Capital Advisors anticipated to fortify the company's wealth-management business.

  • Franklin Resources (BEN) Down 17% Since Last Earnings Report: Can It Rebound?
    Zacks

    Franklin Resources (BEN) Down 17% Since Last Earnings Report: Can It Rebound?

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

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    Morgan Stanley CEO has been tracking E-Trade for close to 20 years

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  • Moody's Affirms Franklin Ratings, Puts Legg Mason on Review
    Zacks

    Moody's Affirms Franklin Ratings, Puts Legg Mason on Review

    On announcement of the all-cash deal between Legg Mason (LM) and Franklin Resources (BEN), Moody's puts ratings of the former on review and affirms that of the latter.

  • Franklin (BEN) to Acquire Legg Mason (LM) for $4.5 Billion
    Zacks

    Franklin (BEN) to Acquire Legg Mason (LM) for $4.5 Billion

    Franklin Resources' (BEN) recently-announced acquisition with Legg Mason (LM) reflects the companies' strategic efforts for business expansion, unlocking growth opportunities.

  • 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.

  • Franklin's (BEN) January AUM Down on Negative Market Returns
    Zacks

    Franklin's (BEN) January AUM Down on Negative Market Returns

    Franklin Resources' (BEN) preliminary assets under management (AUM) of $688 billion for January edge down from the prior month, impacted by negative market returns.

  • 3 Top-Ranked Dividend Stocks: A Smarter Way to Boost Your Retirement Income - February 10, 2020
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    3 Top-Ranked Dividend Stocks: A Smarter Way to Boost Your Retirement Income - February 10, 2020

    The traditional approaches to retirement planning are longer covering all expenses in nest egg years. So what can retirees do? Thankfully, there are alternative investments that provide steady, higher-rate income streams to replace dwindling bond yields.

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  • Franklin's (BEN) Q1 Earnings Beat Estimates, AUM Escalates
    Zacks

    Franklin's (BEN) Q1 Earnings Beat Estimates, AUM Escalates

    Franklin's (BEN) first-quarter fiscal 2020 (ended Dec 31) earnings highlight higher revenues, escalating expenses and overall net outflows.

  • T. Rowe Price (TROW) Q4 Earnings Impressive, Revenues Up
    Zacks

    T. Rowe Price (TROW) Q4 Earnings Impressive, Revenues Up

    T. Rowe Price's (TROW) Q4 results reflect higher assets under management (AUM) and revenues, partly offset by elevated expenses.

  • Will Strong Equity Markets Aid Franklin's (BEN) Q1 Earnings?
    Zacks

    Will Strong Equity Markets Aid Franklin's (BEN) Q1 Earnings?

    Franklin's (BEN) fiscal Q1 results are likely to reflect the favorable impact of solid market performance, partly muted by overall net outflows.

  • Franklin Resources (BEN) Earnings Expected to Grow: Should You Buy?
    Zacks

    Franklin Resources (BEN) Earnings Expected to Grow: Should You Buy?

    Franklin Resources (BEN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Legg Mason (LM) December AUM Up on Fixed Income Net Inflows
    Zacks

    Legg Mason (LM) December AUM Up on Fixed Income Net Inflows

    Increase in Legg Mason's (LM) asset under management balance is likely to continue supporting its top-line growth.

  • Cohen & Steers (CNS) December AUM Up on Market Appreciation
    Zacks

    Cohen & Steers (CNS) December AUM Up on Market Appreciation

    Cohen & Steers (CNS) reports a 1.4% sequential rise in December 2019 assets under management.

  • Franklin Resources' (BEN) December AUM Up on Net Market Gains
    Zacks

    Franklin Resources' (BEN) December AUM Up on Net Market Gains

    Franklin Resources' (BEN) preliminary assets under management (AUM) of $698.3 billion for December up from the prior month, driven by net market gains.

  • Jefferies Financial Rewards Investors With 20% Dividend Hike
    Zacks

    Jefferies Financial Rewards Investors With 20% Dividend Hike

    Jefferies Financial (JEF) raises quarterly dividend by 20% to 15 cents per share.

  • Franklin to Buy Athena Capital Advisors With AUM Worth $6B
    Zacks

    Franklin to Buy Athena Capital Advisors With AUM Worth $6B

    Franklin (BEN) seals deal to acquire Lincoln-based Athena Capital Advisors, in a bid to fortify its wealth-management business.

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