Gold prices bounce off 3-week lows; demand likely longer term
Franklin Resources Inc. (NYSE:BEN) stock reached a 52-week high, peaking at 24.98 USD. According to InvestingPro analysis, the company appears slightly undervalued at current levels, with a market capitalization of $13.1 billion. This milestone reflects a positive trend for the investment management company, which has experienced a 1-year change of 7.97%. The company’s impressive 34% gain over the past six months and consistent dividend payments for 45 consecutive years demonstrate its resilience. The recent performance highlights the company’s resilience and growth potential in a competitive market, with a healthy 5.1% dividend yield. Investors are closely watching Franklin Resources as it continues to navigate economic fluctuations while maintaining a steady upward trajectory. For deeper insights into BEN’s valuation and growth prospects, InvestingPro offers 8 additional exclusive tips and a comprehensive Pro Research Report, part of its coverage of 1,400+ US stocks.
In other recent news, Franklin Resources has been the subject of several noteworthy developments. Goldman Sachs upgraded Franklin Resources from Neutral to Buy, citing improved traction in alternative investments and a reduction in outflows from traditional products. The investment bank set a price target of $29, projecting an 8% compound annual growth rate in earnings per share through 2027. Meanwhile, TD Cowen raised its price target for Franklin Resources to $28, maintaining its Buy rating due to "building momentum in the long-term flow inflection."
In addition, Franklin Resources announced a minor merger and acquisition deal in Europe, although specific details of the transaction have not been disclosed. The company’s recent assets under management report exceeded expectations, with stronger core flows and reduced run-off related to Western Asset Management Company. Furthermore, Franklin Templeton, a part of Franklin Resources, revealed plans to liquidate its Franklin FTSE Hong Kong ETF, with the liquidation process set to complete in July 2025. Lastly, Franklin Resources updated its bylaws to include a Delaware forum selection clause, as disclosed in a filing with the U.S. Securities and Exchange Commission.
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