The biotech market has been buzzing with various activities around Franklin Resources BEN. Notably, Commerzbank Aktiengesellschaft FI recently invested in the company, marking its new footprint in the sector. Meanwhile, Rich Nuzum has been appointed head of OCIO, a move aimed at enhancing investment solutions provided by the company.
Further, Victory Capital is reportedly gearing up for growth as it defends its market share, putting it in direct competition with Franklin Resources. On the positive side, Goldman Sachs has upgraded Franklin Resources stock to 'buy', while the company saw a decrease in short interest despite potential underperformance in the financial sector.
Notably, the company's assets hit a record $1.61T in June as its equity portfolio surged to $656B, while its price targets have been revised upwards by Barclays and other entities. Moreover, the company has maintained its quarterly dividend at $0.32 per share, much to the delight of investors. However, its stock retreated by almost 6% following the decline in earnings β a concern for shareholders.
The asset manager has also strengthened its foothold in the dividend stock market, with shares being sought after by short sellers. Observed as a promising pick for passive income, Franklin Resources is making strides toward becoming a preferred player in the low-priced dividend stock segment.
Franklin Resources BEN News Analytics from Sat, 31 Aug 2024 07:00:00 GMT to Sat, 19 Jul 2025 12:53:09 GMT - Rating 5 - Innovation 3 - Information 8 - Rumor -2