Franklin Resources Inc Stock Price, News & Analysis

Franklin Resources, Inc. (NYSE: BEN) reported preliminary assets under management (AUM) of $1,318.4 billion as of October 31, 2022, up from $1,297.4 billion at September 30, 2022. The increase was driven by favorable market conditions, despite long-term net outflows, including a $2.1 billion fixed income redemption. On November 1, 2022, the company completed its acquisition of BNY Alcentra Group Holdings, adding $35 billion in additional AUM.

Franklin Resources announced preliminary net income of $232.7 million or $0.46 per diluted share for Q3 FY2022, down from $256.4 million or $0.50 in Q2 FY2022 and $665.7 million or $1.30 in Q3 FY2021. For the fiscal year, net income was $1,291.9 million or $2.53 per share, a 29% decline year-over-year. Assets under management (AUM) decreased by 15% to $1.297 trillion. Despite macroeconomic pressures, the firm saw net inflows in alternative investments and improved performance in EMEA regions. The company maintains a strong cash position of $6.8 billion.

Franklin Templeton has completed the acquisition of BNY Alcentra Group Holdings, increasing its alternative assets under management to $260 billion. The transaction enhances Benefit Street Partners' (BSP) capabilities, doubling its assets to $75 billion globally. Alcentra, with $35 billion in assets under management, specializes in various credit strategies. This acquisition is strategic as alternative asset management continues to gain traction among investors, allowing Franklin Templeton to expand its market presence in Europe.

Franklin Universal Trust (NYSE: FT) announced its estimated sources of distribution for the monthly payment on October 31, 2022. Each share will receive $0.0425, derived entirely from net investment income. Year-to-date cumulative distributions remain at $0.0425 per share. The Fund aims to provide high current income with capital preservation, while the average annual total return over the past five years was 3.06%. Shareholders are advised that distribution amounts are estimates and subject to change.

William Y. Yun, a senior advisor with 30 years of experience at Fiduciary Trust International and its parent Franklin Templeton, has returned to the firm as of October 3. Based in Palm Beach, FL, he will focus on growth in South Florida. Yun previously held numerous executive positions, including president and portfolio manager, and has been instrumental in the firm's recovery post-9/11. With over $86 billion in assets under management, Fiduciary Trust specializes in wealth management services aimed at high-net-worth clients.

On November 1, 2022, Franklin Resources, Inc. [NYSE:BEN] will publish its fourth quarter and fiscal year 2022 results at 8:30 a.m. ET. A live teleconference will follow at 11:00 a.m. ET, hosted by key executives including President and CEO Jenny Johnson. Access to the teleconference will be available through the company’s investor relations website or by calling designated numbers. Franklin Resources manages approximately $1.3 trillion in assets and operates in over 155 countries, leveraging 75 years of investment expertise.

Franklin Resources, Inc. (NYSE: BEN) reported preliminary assets under management (AUM) of $1,297.4 billion as of September 30, 2022, down from $1,387.6 billion on August 31, 2022. The decline was due to negative market impacts and long-term net outflows totaling $20.4 billion for the quarter, including a significant $2.0 billion redemption in fixed income. The company continues to navigate challenging market conditions while working to improve performance.