Franklin Resources (BEN)

• Market cap: $9.82B
• 1 day: 3.43%
• 5 days: 4.54%
• 1 month: -6.98%
• 3 months: -6.60%
• 6 months: -7.07%
• Year to date: -7.30%
• 1 year: -26.29%
• 5 years: 17.72%
• 10 years: -64.01%
• Sector: Financials
• Industry: Asset Management

About: Franklin Resources provides investment services for individual and institutional investors. At the end of April 2024, Franklin had $1.602 trillion in managed assets, composed primarily of equity (35%), fixed-income (35%), multi-asset/balanced (10%) funds, alternatives (16%) and money market funds (4%). Distribution tends to be weighted equally between retail investors (52% of AUM) and institutional accounts (46%), with high-net-worth clients accounting for the remainder. Franklin is one of the more global of the US-based asset managers we cover, with more than a third of its assets under management invested in global/international strategies and 30% of managed assets sourced from clients domiciled outside the United States.

Employees: 10,100

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

400% more funds holding in top 10

Funds holding in top 10: 1 [Q3] → 5 (+4) [Q4]

29% more call options, than puts

Call options by funds: $50.4M | Put options by funds: $39.1M

26% more first-time investments, than exits

New positions opened: 88 | Existing positions closed: 70

1.96% more ownership

Funds ownership: 50.27% [Q3] → 52.22% (+1.96%) [Q4]

5% more capital invested

Capital invested by funds: $5.3B [Q3] → $5.56B (+$258M) [Q4]

1% more repeat investments, than reductions

Existing positions increased: 196 | Existing positions reduced: 194

1% more funds holding

Funds holding: 548 [Q3] → 553 (+5) [Q4]

Research analyst outlook

10 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $15 20% downside
• Avg. target: $18.95 1% upside
• High target: $23 23% upside

10 analyst ratings

• positive: 0 0%
• neutral: 5 50%
• negative: 5 50%

Barclays Benjamin Budish 61% 1-year accuracy 80 / 132 met price target	9% downside $17	Underweight Maintained	16 Apr 2025
Goldman Sachs Alexander Blostein 54% 1-year accuracy 25 / 46 met price target	2% upside $19	Neutral Maintained	14 Apr 2025
Evercore ISI Group David Motemaden 77% 1-year accuracy 10 / 13 met price target	9% downside $17	Underperform Maintained	11 Apr 2025
TD Cowen Bill Katz 59% 1-year accuracy 20 / 34 met price target	6% downside $17.50	Hold Maintained	9 Apr 2025
Wells Fargo Michael Brown 37% 1-year accuracy 28 / 75 met price target	7% upside $20	Equal-Weight Maintained	8 Apr 2025