Franklin resources’ Johnson Charles B buys $1.96 million in shares

SAN MATEO, Calif.—Johnson Charles B, a significant shareholder in Franklin Resources Inc. (NYSE:BEN), recently acquired 100,000 shares of the company’s common stock. The purchase, made on March 4, 2025, was executed at an average price of $19.57 per share, bringing the total transaction value to approximately $1.96 million. The purchase price represents an attractive entry point, with the stock trading near its 52-week low of $18.82 and significantly below its 52-week high of $28.61. According to InvestingPro analysis, the stock appears undervalued at current levels.

Following this transaction, Johnson now holds a total of 89,375,067 shares directly. Additionally, he maintains indirect holdings through a 401(k) and an IRA, amounting to 24,526 and 4,059,651 shares, respectively. The recent activity underscores Johnson’s ongoing investment in Franklin Resources, a company known for its financial advisory services and its impressive 45-year track record of maintaining dividend payments. The company currently offers a substantial 6.54% dividend yield, making it an attractive option for income-focused investors. InvestingPro subscribers can access 8 additional key insights about Franklin Resources, including detailed financial health metrics and growth projections.

In other recent news, Franklin Resources has been active with several key developments. The company released its first fiscal quarter earnings report for 2025, revealing plans for an additional $200-250 million in cost savings, expected to be realized by the beginning of fiscal year 2027. This announcement was well-received by the market, prompting TD Cowen to raise its price target for Franklin Resources to $20, while maintaining a Hold rating. Similarly, BofA Securities adjusted its price target to $20, though it kept an Underperform rating, citing updated earnings per share estimates for the coming years.

In a separate update, Franklin Templeton, a subsidiary of Franklin Resources, launched the Franklin Crypto Index ETF (EZPZ), offering exposure to bitcoin and ether. The ETP comes with a waived sponsor fee until August 31, 2025, on the first $10 billion of assets. Meanwhile, the California State Teachers’ Retirement System announced the withdrawal of $1 billion from Western Asset Management Company (Wamco), a subsidiary of Franklin Resources, amid fraud charges against a former trader.

Additionally, Franklin Resources confirmed the re-election of its board of directors and the ratification of PricewaterhouseCoopers LLP as its independent auditor for the fiscal year ending September 30, 2025. These moves reflect the company’s continued focus on governance and financial oversight. Despite significant net redemptions, Franklin Resources is taking steps to streamline its cost structure, which has been positively received by investors.

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