BEN - Franklin Resources, Inc.

NYSE - NYSE Delayed Price. Currency in USD
19.80
+0.31 (+1.59%)
At close: 4:00PM EDT

19.80 0.00 (0.00%)
After hours: 5:09PM EDT

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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close19.49
Open19.59
Bid19.01 x 3200
Ask20.83 x 1100
Day's Range19.59 - 20.11
52 Week Range14.91 - 35.77
Volume3,063,529
Avg. Volume5,571,173
Market Cap9.807B
Beta (5Y Monthly)1.31
PE Ratio (TTM)10.12
EPS (TTM)1.96
Earnings DateJul 28, 2020 - Aug 03, 2020
Forward Dividend & Yield1.08 (5.54%)
Ex-Dividend DateMar 30, 2020
1y Target Est18.25
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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    (Bloomberg) -- Franklin Templeton’s zero-tolerance policy on racism led to the swift firing of its former head of insurance investment, Amy Cooper, according to the head of its parent company.Jenny Johnson, chief executive officer of Franklin Resources Inc., said the company is reviewing its diversity and inclusion efforts after a viral video of the employee surfaced last week. In it, Cooper called the police on her mobile phone to say that an African-American man was threatening her and her dog in New York’s Central Park. The man, Christian Cooper, said he had earlier asked her to leash her dog.“The facts were undisputed in this case, and we were able to make a quick decision,” Johnson said at a Bloomberg virtual conference Tuesday. “The U.S. is in a lot of pain right now, and our African-American colleagues are in a lot of pain.”Read more: Franklin Fires Staffer the Day After Park Video Goes ViralCooper’s altercation occurred the same week as the death of George Floyd, an unarmed black man, at the hands of Minneapolis police. Floyd’s killing and other fatal police encounters have fueled protests worldwide and prompted executives from most major banks and investment firms to speak out. Behind the scenes, it’s driving conversations in an industry that wants to be viewed as more socially responsible, even as it struggles to deliver on promises to improve diversity within its ranks.“We can’t control everything, but we can control the environment in which we operate our companies,” Johnson said. “And it starts with leaders ensuring that discrimination is not tolerated and that we create an environment that absolutely feels inclusive for all employees.”The company’s staff and clients were supportive of its decision to terminate Cooper, but a small segment felt it was unfair, Johnson said.Prudential Financial Inc.’s asset manager is meeting with black employees this week to listen to their concerns and express support during an “incredibly painful time” for the community, PGIM CEO David Hunt said at the event. Prudential is based in Newark, New Jersey, and is a major employer in the city where more than 86% of the population is black or Latino, he said. He called on more business leaders to speak out.“We all need to publicly condemn racism and prejudice in every form,” Hunt said. “Silence cannot be an option.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Business Wire

    Templeton Emerging Markets Income Fund ("TEI") Announces Distribution

    Templeton Emerging Markets Income Fund [NYSE: TEI] today announced a monthly distribution from net investment income of $0.0471 per share, payable on June 30, 2020, to shareholders of record on June 15, 2020 (Ex-Dividend Date: June 12, 2020).

  • Business Wire

    Templeton Global Income Fund ("GIM") Announces Distribution

    Templeton Global Income Fund [NYSE: GIM] today announced a monthly distribution from net investment income of $0.0133 per share, payable on June 30, 2020, to shareholders of record on June 15, 2020 (Ex-Dividend Date: June 12, 2020).

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    Franklin Templeton Employee Firing Reflects Emphasis on Diversity and Inclusion

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  • Bloomberg

    Franklin Fires Staffer the Day After Park Video Goes Viral

    (Bloomberg) -- The video of an altercation on Monday between a white female executive and a black man in Central Park went viral almost immediately. Within 24 hours, the woman was out of a job.The woman, an employee of Franklin Templeton, is seen calling the police on her mobile phone saying “there is an African American man, I am in Central Park. He is recording me, and threatening myself and my dog.” The man had earlier asked her to leash her dog in the wooded area of the park, called the Ramble, according to his account.The incident underscores the nature of race relations in the U.S., in which African-Americans have faced outbursts -- and worse -- from whites while simply going about their business. It also demonstrates that companies are increasingly holding employees accountable even for behavior that occurs outside the office.“We’re living in chaos and predictable responses are going out the window,” said Davia Temin, founder of New York City crisis consultancy Temin and Co. “What wisdom would tell you, is to just walk away. But that usually takes a less stressful environment, and right now all the ions are charged.”pic.twitter.com/3YnzuATsDm— Melody Cooper (@melodyMcooper) May 25, 2020 On Monday, Franklin Templeton placed the woman, Amy Cooper, the firm’s head of insurance investment, on leave. By Tuesday afternoon, they fired her over the episode.“Following our internal review of the incident in Central Park yesterday, we have made the decision to terminate the employee involved, effective immediately,” a spokeswoman for the company said in a statement. “We do not tolerate racism of any kind at Franklin Templeton.”In the video posted on Facebook, the woman takes out her phone and says she will tell the police there is “an African American man threatening my life.” The man, Christian Cooper, is taping her on his phone.In a statement issued on Tuesday after she was fired, Amy Cooper expressed regret over the incident.“I want to apologize to Chris Cooper for my actions when I encountered him in Central Park yesterday,” she said. “I reacted emotionally and made false assumptions about his intentions when, in fact, I was the one who was acting inappropriately by not having my dog on a leash.”Cooper added that she was “well aware of the pain that misassumptions and insensitive statements about race cause” and never imagined she would be involved in such an incident.Christian Cooper could not be reached for comment.“I videotaped it because I thought it was important to document things,” he said, according to CNN. “Unfortunately we live in an era with things like Ahmaud Arbery, where black men are seen as targets. This woman thought she could exploit that to her advantage, and I wasn’t having it.”Some took to Twitter to applaud Franklin Templeton’s decision, and encouraged the firm to assess her record of potential workplace discrimination.Franklin Templeton declined to comment beyond its public statement.Central Park rules state that dogs must be leashed at all times in the Ramble.Franklin Resources Inc. is the parent of Franklin Templeton.(Adds statement from Amy Cooper starting in eighth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Thomson Reuters StreetEvents

    Edited Transcript of BEN earnings conference call or presentation 30-Apr-20 3:00pm GMT

    Q2 2020 Franklin Resources Inc Earnings Call

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    Franklin Limited Duration Income Trust Declares Monthly Distribution

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    Franklin Universal Trust Declares Monthly Distribution

    Franklin Universal Trust [NYSE:FT], a closed-end investment company managed by Franklin Advisers, Inc., announced today a distribution of $0.0320 per share, payable June 15, 2020, to shareholders of record on May 29, 2020 (Ex-Dividend Date: May 28, 2020).

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    Fiduciary Trust International Continues Expanding its New York Office, Welcoming Maudie Long, CFA® and David DeStefano

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  • Legg Mason's Shareholders Agree to Merge With Franklin (BEN)
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    Legg Mason, Inc. (NYSE: LM) announced that its shareholders have voted to approve its proposal to merge with Franklin Resources, Inc. (NYSE:BEN), a global investment management organization operating as Franklin Templeton.

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    Franklin Limited Duration Income Trust Announces Sources of Monthly Dividend Distribution

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  • 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 $599.4 billion at April 30, 2020, compared to $580.3 billion at March 31, 2020. The increase in assets under management was due to strong market performance and significant improvement in net outflows. Preliminary average assets under management for the quarter, through April 30, 2020, were $589.8 billion.*

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    Week’s Best: PPP Loans and Taxes

    Late last week, the IRS made clear that small businesses taking loans under the emergency Paycheck Protection Program will not be able to deduct business expenses associated with loans that are forgiven. Such deductions would amount to a double tax benefit, because the money businesses receive from forgiven loans isn’t taxed. After the IRS published its guidance, however, a bipartisan group of senators backed legislation that would allow tax deductions for those expenses.

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    Franklin Templeton Scoops Up AdvisorEngine

    The asset manager acquires a provider of wealth management technology to more than 1,200 financial advisory firms in the U.S.

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    Franklin Templeton Acquires Digital Wealth Leader AdvisorEngine

    Franklin Templeton Acquires Digital Wealth Leader AdvisorEngine

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    Fiduciary Trust International Completes Acquisition of Pennsylvania Trust

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

  • Business Wire

    Franklin Resources, Inc. Announces Second Quarter Results

    Franklin Resources, Inc. (the "Company") [NYSE: BEN] today announced net income1 of $79.1 million or $0.16 per diluted share for the quarter ended March 31, 2020, as compared to $350.5 million or $0.70 per diluted share for the previous quarter, and $367.5 million or $0.72 per diluted share for the quarter ended March 31, 2019. The mark-to-market of the Company’s investment portfolio resulted in significant nonoperating losses that drove the decline in net income for the quarter ended March 31, 2020. Operating income was $356.1 million for the quarter ended March 31, 2020, as compared to $392.7 million for the previous quarter and $379.5 million in the prior year.

  • Barrons.com

    India’s Bond Market Seizes Up, Forcing Franklin Templeton To Close Six Funds

    Franklin Templeton’s Indian mutual fund unit was forced to close six funds, with $3.4 billion in assets, because of liquidity problems. But the firm is still better positioned there than other U.S. asset managers.