Franklin Resources Inc Stock Price, News & Analysis

The Franklin Limited Duration Income Trust (FTF) has announced a dividend of $0.0780 per common share, payable on August 13, 2021, to shareholders of record as of July 30, 2021. Of this dividend, $0.0417 is from net investment income and $0.0363 represents a return of principal. The Fund operates a managed distribution plan ensuring monthly distributions at a 10% annual fixed rate based on average monthly net asset value (NAV), but the plan's effectiveness is not guaranteed. Changes to this plan may impact the market price of shares.

Franklin Templeton has appointed Mike Foley as the new Head of US Institutional Services, effective September 7. Foley will lead the firm’s US institutional distribution, overseeing direct sales and consultant relations. His extensive experience includes leadership roles at Guggenheim Investments and BlackRock. This appointment aims to capitalize on growth opportunities following the Legg Mason acquisition. The firm will focus on acquiring new business, retaining client assets, and enhancing product development to serve institutional clients better.

Franklin Resources reported preliminary assets under management (AUM) of $1,557.3 billion as of July 31, 2021, up from $1,552.1 billion at June 30, 2021. This increase was driven by market performance and the acquisition of Diamond Hill's $3.4 billion credit mutual funds, despite long-term net outflows totaling $5.4 billion due to a previously disclosed 529 plan redemption and $440 million from liquidating India credit funds. Fixed income AUM rose to $661.4 billion, while equity AUM declined slightly to $536.5 billion.

Fiduciary Trust International has appointed David Oh as trust counsel for Northern California, based in San Mateo. Oh, recognized for his expertise in estate planning and taxation law, previously served as a director at Charles Schwab. The firm aims to enhance its regional team amidst evolving market conditions, focusing on personalized tax and estate planning strategies for clients. Fiduciary Trust, a subsidiary of Franklin Templeton, oversees over $94 billion in assets and has a long history in the wealth management sector since 1931.

Franklin Resources, Inc. (NYSE: BEN) announced a public offering of $350 million 2.950% Notes due 2051 at an issue price of 99.368%, along with $100 million 1.600% Notes due 2030 at 97.751%. The closing is expected on August 12, 2021. Proceeds will primarily be used for general corporate purposes, including repayment of existing debts. This offering follows an effective registration statement filed on October 6, 2020.

Fiduciary Trust International has appointed Paul Cummings as the new head of family office services, foundations, and endowments, a role aimed at enhancing the firm's comprehensive offerings for high-net-worth clients. Cummings brings extensive experience from Abbot Downing and Merrill Lynch, focusing on investment strategy and governance. The firm's president emphasizes the importance of evolving client needs, while CEO John Dowd asserts their commitment to optimizing financial outcomes post-pandemic. Fiduciary Trust has $99 billion in assets under management as of June 30, 2021.

Franklin Resources, Inc. (NYSE: BEN) reported net income of $438.4 million ($0.86 per diluted share) for the quarter ended June 30, 2021, a 15% increase from the previous quarter. Operating income rose to $478.1 million, up 5% quarter-over-quarter. Adjusted net income reached $493.7 million, with adjusted diluted earnings per share at $0.96. Despite long-term net outflows of $6.6 billion, total assets under management (AUM) grew to $1.552 trillion, boosted by a $62 billion net market change. The company continues to invest in business growth following the acquisition of Legg Mason.

Templeton Global Income Fund (NYSE: GIM) has declared a monthly distribution of $0.0369 per share from net investment income, payable on August 31, 2021. Shareholders on record by August 16 will receive this payment, with an Ex-Dividend Date set for August 13. The Fund operates under a managed distribution plan ensuring a 7.5% annual minimum distribution based on the average monthly net asset value (NAV). Distributions may include long-term capital gains or return of capital if necessary, and these figures might not reflect the Fund’s actual investment performance.

Templeton Emerging Markets Income Fund (TEI) announced a monthly distribution of $0.0716 per share, payable on August 31, 2021, to shareholders of record on August 16, 2021. The Fund's Board authorized an increase in its managed distribution plan from an 8.5% to a 10% annual minimum fixed rate, based on the average monthly net asset value (NAV). While this plan aims to provide shareholders with stable monthly distributions, it may include long-term capital gains or return of capital if net ordinary income is insufficient. Investors should be cautious, as distributions may not reflect actual investment performance.