**Franklin Resources (BEN)** is experiencing a volatile economic condition. Their share price hit a new 12-month low at $21.71. Over the past three years, investors have unfortunately lost 23%. Adding to it, the Q2 earnings predictions showed signs of decline, and they missed analyst projections amidst strategic expansions. An alarming note was also raised when Franklin faced a lawsuit for allegedly destroying a blockchain startup.
Despite mixed Q1 results with rising net income year-over-year, and increased assets under management (AUM), earnings saw a miss, leading analysts to revise their forecasts. On the other hand, the probable expansion into private investing and crypto funds indicate attempts at diversification. BEN is well-backed institutionally, with 48% ownership lying with institutions.
While the stock underwent underperformance when compared to competitors, it managed to outperform competitors despite losses on some days. An interesting development involved the company buying back its own shares. Franklin's move towards private investment might be due to the contraction in the mutual funds sector. Institutional ownership and dividends also threw some positive light.
Franklin Resources BEN News Analytics from Tue, 31 Oct 2023 07:00:00 GMT to Sun, 16 Jun 2024 11:40:38 GMT - Rating -2 - Innovation -1 - Information 5 - Rumor 1
