Franklin Resources Inc Stock Price, News & Analysis

Fiduciary Trust International, a global wealth manager and subsidiary of Franklin Templeton, announces the recognition of Gail E. Cohen as one of the "Influential Business Women" by the South Florida Business Journal for 2020. With over 30 years of experience, Cohen leads the firm's South Florida operations and is noted for her leadership in wealth management and community involvement. The annual awards honor women demonstrating strong leadership and innovation while engaging in their communities. Fiduciary Trust manages over $86 billion in assets.

Fiduciary Trust International, a wealth management firm, has appointed Amy Ko as senior relationship manager and managing director in San Mateo, California. Ko brings extensive experience from her previous roles, including managing director at Silicon Valley Bank Private & Wealth Advisory Group. The firm aims to enhance its client relationships and expand its presence in Northern California. With over $86 billion in assets under management, Fiduciary Trust continues to grow its investment and wealth management services, supported by the expertise of seasoned professionals.

According to the Franklin Templeton-Gallup Economics of Recovery Study, 35% of investors with financial advisers report being "very confident" in their investment strategy compared to 15% of those without advisers. The study, conducted from October 1-9, 2020, surveyed over 5,000 U.S. adults and highlighted that higher confidence levels correlate with greater consumer engagement in economic recovery activities. Additionally, nearly half (48%) of investors are currently working with a financial adviser, showcasing the advisers' role in fostering investor confidence and stimulating economic activity.

Franklin Resources, Inc. (NYSE: BEN) reported preliminary assets under management (AUM) of $1,391.6 billion as of October 31, 2020, a decrease from $1,418.9 billion at the end of September 2020. The decline reflects fluctuations across several asset classes. Notably, fixed income decreased from $656.7 billion to $652.8 billion, and equity assets fell from $432.0 billion to $418.1 billion. The firm continues to highlight its global investment management capabilities, serving clients in over 165 countries.

Fiduciary Trust International has appointed Julia C. Wirts as a portfolio manager in its Radnor office. Formerly an investment advisor at Hawthorn, PNC Family Wealth, she managed portfolios for clients with over $20 million in assets. With expertise in socially responsible investing, Ms. Wirts aims to enhance the firm's presence in Philadelphia. This addition follows the acquisition of The Pennsylvania Trust Company, which managed approximately $4 billion in assets. Fiduciary Trust International manages more than $82 billion in assets across various services.

Franklin Resources, Inc. (NYSE: BEN) reported preliminary net income of $78.9 million or $0.15 per diluted share for Q4 2020, a significant decline from $290.4 million or $0.58 in the previous quarter and $306.4 million or $0.61 in Q4 2019. Annual net income for FY 2020 was $798.9 million or $1.59 per share, down 33% year-over-year. Despite challenges, the company experienced record net inflows of $5.7 billion in U.S. fixed income and a robust performance from acquired assets, achieving an end-of-year AUM of $1,418.9 billion.

Franklin Resources, Inc. (NYSE: BEN) announced a public offering of $750 million in 1.600% Notes due 2030 at an issue price of 99.778%. The offering, managed by BofA Securities and Citigroup, is expected to close on October 19, 2020. Proceeds will be used for general corporate purposes, including repaying long-term debt and possibly retiring a portion of Legg Mason’s 6.375% and 5.45% Junior Subordinated Notes due 2056. The offering is part of Franklin’s ongoing strategy to manage its financial obligations effectively.

Franklin Resources, Inc. (NYSE: BEN) reported a decline in preliminary assets under management, totaling $1,418.9 billion as of September 30, 2020, down from $1,441.3 billion in August. The breakdown includes $432.0 billion in equity, $656.7 billion in fixed income, $133.8 billion in multi-asset, and $124.0 billion in alternative investments. The company provided insight into its diverse investment management strategies while highlighting ongoing challenges in the capital markets and the impact of potential risks from economic conditions.

Franklin Resources, Inc. (NYSE:BEN) will disclose its fourth quarter and fiscal year 2020 operating results on October 27, 2020, at 8:30 a.m. ET. A written commentary will accompany the results and be available on the company’s investor relations website. Following this, a live teleconference hosted by key executives will occur at 11:00 a.m. ET, providing an opportunity for analysts and investors to ask questions. A replay of the teleconference will be accessible afterward, and stakeholders are encouraged to review recent SEC filings for additional insights.