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Franklin Resources Stock Soars 39% in Three Months
21 Jun
Summary
- Franklin Resources stock gained 39.6% in the past three months.
- Assets under management reached a record $1.78 trillion as of May 31.
- A new collateralized loan obligation ETF, YCLO, was launched this month.
Franklin Resources, Inc. (BEN), a global investment management firm, has experienced a significant stock performance surge. Over the past three months, its shares climbed 39.6%, substantially outpacing the Dow Jones Industrial Average's 12% gain. This strong momentum extends to the longer term, with a 46.3% increase over the last 52 weeks compared to the index's 22.3%.
The company's assets under management (AUM) reached a record $1.78 trillion as of May 31, an increase from $1.75 trillion at the end of April. This growth was fueled by positive market movements and significant net inflows totaling $4 billion.
Adding to its product suite, Franklin Resources launched the Franklin BSP CLO ETF (YCLO) this month. This new exchange-traded fund aims to provide floating-rate income and diversification benefits to fixed-income portfolios.
Despite its recent stock performance, Wall Street analysts maintain a cautious outlook. The stock holds a consensus 'Hold' rating from 12 analysts, with a mean price target suggesting a potential downside.
