Franklin Resources Inc Stock Price, News & Analysis

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.

AdvisorEngine has appointed Raj Madan as Chief Information Officer to spearhead technological advancements in wealth management. Madan, with over 20 years of experience, notably at BNY Mellon, will lead all technology functions, aligning with AdvisorEngine's growth strategy. His expertise is expected to enhance product development and strengthen partnerships within the fintech sector. The company emphasizes its commitment to an integrated technology platform designed for financial advisors and their clients, targeting innovative solutions in the wealth management lifecycle.

Franklin Limited Duration Income Trust (FTF) announced a distribution of $0.0780 per common share, payable on August 13, 2021, to shareholders on record as of July 30, 2021. The Fund has adopted a managed distribution plan targeting a 10% annual minimum fixed rate based on the average monthly net asset value (NAV). Distributions may include long-term capital gains or return of capital if sufficient investment income is unavailable. The plan's terms can be amended or terminated by the Board, potentially impacting the market price of the Fund's shares.

The Franklin Limited Duration Income Trust (FTF) has declared a dividend of $0.0780 per common share, payable on July 15, 2021, to shareholders of record by June 30, 2021. Out of this amount, approximately $0.0391 is net investment income, while $0.0389 is a return of principal. The Fund will follow a managed distribution plan, providing monthly distributions at an annual minimum fixed rate of 10% based on the average NAV of the Fund's shares, intended to narrow the discount between market price and NAV.