Investment management firm Franklin Resources has been under scrutiny after seeing significant outflows and a drop in assets under management (AUM) to $1.58 trillion. Notably, Western Asset, one of their key units, saw major outflows in December. This turmoil has been further exacerbated by the co-CIO being placed on leave following the closure of a $2 billion fund. Despite these challenges, the firm recently declared it will pay higher dividends than the previous year, maintaining its Dividend Aristocrat status. However, it's not all positive news. The SEC has launched a probe into Franklin's co-CIO and its unit, leading to a significant fall in Franklin's share price. Amid this turbulence, Franklin unveiled a major brand campaign and some analysts upgraded their rating to neutral. Furthermore, the announcement of their Q4 earnings fell short of estimates and revealed challenges in navigating growth. Despite these issues, Franklin has witnessed increased holdings by influential entities such as JP Morgan and Principal Financial Group, indicating some investor confidence. Pending securities investigations and cautious market responses have contributed to a fluctuating outlook for Franklin Resources.
Franklin Resources BEN News Analytics from Thu, 21 Mar 2024 07:00:00 GMT to Fri, 10 Jan 2025 21:01:00 GMT - Rating -4 - Innovation 1 - Information 3 - Rumor -3
