Franklin Resources, IncNYSE: BEN
Financials · Asset Management & Custody Banks
$33.07
-0.66%
Vol: 4.1M
Research Digest
Friday, June 19, 2026
Franklin Resources' Western Asset settles SEC cherry-picking probe for $100M and appoints new CIO Michael Buchanan, removing a major legal overhang.
Franklin Resources (BEN) saw its Western Asset Management unit settle a $100 million civil penalty with the SEC on June 4, 2026, over alleged trade allocation (cherry-picking) violations tied to former co-CIO Ken Leech, without admitting wrongdoing. The DOJ separately closed its inquiry without action, fully resolving federal investigations. On June 5, 2026, Franklin appointed Michael Buchanan as Western Asset's new chief investment officer. The stock jumped 6% and hit a 52-week high on news of the settlement. Q2 2026 results showed $16.9 billion in long-term net inflows and AUM of $1.78 trillion as of May 31, 2026. A $0.33/share quarterly dividend was declared payable July 10, 2026 — a 3.1% increase. Barclays upgraded BEN to Equal Weight from Underweight with a $31 price target.
Previous Market Intelligence
13 daysJun 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21Franklin Resources declared a $0.33 dividend on May 21 and unveiled blockchain-enabled private markets and SMA partnerships with Payward, Corastone and Ritholtz Wealth Management; stock is up ~16.7% over 30 days.Positive▶
On May 21, 2026, Franklin Resources declared a quarterly dividend of $0.33 per share. Earlier in the month, on May 12, Franklin Templeton announced a strategic collaboration with Payward (Kraken's parent) to advance tokenized assets and institutional digital offerings, and rolled out Private Markets Model Portfolios built on blockchain-enabled infrastructure with Corastone, plus a momentum-driven equity SMA strategy with Ritholtz Wealth Management. Recent fiscal Q2 results showed revenue of about $2.29B and net income of $268.2M, with diluted continuing-operations EPS of $0.49 and AUM running near $1.74T with long-term net inflows. Shares are around $31.55, up ~16.7% over 30 days and ~50% over the past year, reflecting investor enthusiasm for the digital assets and private markets strategy. Risk: AUM has been volatile post-Western Asset, and competitive pressure on fees continues.
May 20Franklin Resources partnered with Kraken operator Payward on May 14 to develop tokenized actively managed investments.Positive▶
On May 14, 2026, Franklin Templeton (Franklin Resources) entered a collaboration with Payward, the operator of Kraken, to develop tokenized, actively managed investments for institutional clients. The company also launched Private Markets Model Portfolios with Corastone on blockchain-enabled infrastructure and partnered with Ritholtz Wealth Management on a momentum-driven equity SMA. Franklin filed a Form 13F on May 8 disclosing $408.3B across 14,782 positions. Shares traded around $32 in mid-May, up 24.8% over the past month and 34.6% YTD. Morgan Stanley upgraded to Equal Weight from Underweight on May 7 with a $31 price target. Risk: AUM growth is offset by continued outflows at Western Asset Management.
May 19Franklin Resources stock up 27% over the past month following strong Q2 2026 beat; launches FranklinCrypto and onchain collaboration with Kraken operator PaywardPositive▶
Franklin Resources reported fiscal Q2 2026 EPS of $0.71 vs $0.55 consensus and revenue of $2.29 billion vs $2.05B estimate, prompting analyst price target upgrades. The company launched new private markets model portfolios built on blockchain-enabled infrastructure with Corastone and announced an onchain collaboration with Payward (Kraken's operator) for tokenized actively-managed institutional products. Franklin also confirmed acquisition of 250 Digital and planned launch of FranklinCrypto to expand digital-asset offerings. Stock has returned 4.0% over the past week, 27.2% over the past month, and 33.1% YTD, closing recently at $31.68. The company reported broad-based positive net inflows across regions and asset classes with a robust institutional pipeline.
May 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 15Franklin Templeton partners with Payward/Kraken May 12 to expand tokenized assets and crypto offeringsPositive▶
Franklin Templeton announced May 12 a strategic collaboration with Payward (Kraken) to advance tokenized assets and institutional digital offerings, leveraging Kraken's infrastructure and xStocks framework. The asset manager also introduced Private Markets Model Portfolios on blockchain infrastructure with Corastone, and partnered with Ritholtz Wealth Management for a momentum-driven equity SMA. AUM reached $1.74T at end of April 2026, up from $1.68T at end of March. Franklin filed Form 13F on May 8 disclosing $408.3B in institutional holdings. Morgan Stanley upgraded BEN to Equal Weight from Underweight on May 7 with $31 PT. Stock at $31.55 on May 11. Risk: ongoing Western Asset Management outflows.
May 14Franklin Resources stock has surged ~25% in the past month after a Q2 FY26 beat, with Morgan Stanley upgrading to Equal Weight and raising its target to $31.Positive▶
Franklin Resources delivered a strong fiscal Q2 2026 with revenue of $2.29B, sales of $396.6M, net income of $268.2M, and EPS of $0.49, all up year-over-year. AUM stood at $1.74 trillion as of Feb 28, 2026, with $10B in long-term net inflows offsetting $1B of Western Asset outflows. On May 6, 2026, Morgan Stanley upgraded BEN to Equal Weight from Underweight, lifting its price target to $31 from $21; Weiss Ratings concurrently upgraded to Buy (B-). Franklin also expanded its private-markets and equity SMA platforms aimed at advisors seeking tailored building blocks. Shares closed at $31.55 on May 11, with market cap of $16.1B - up 32.87% over 30 days. On May 12, Swiss Life Asset Management trimmed 77,577 shares, a modest signal of mixed institutional positioning.
May 13Franklin Templeton launched new Private Markets Model Portfolios with Corastone on May 11; Morgan Stanley upgraded Franklin to Equal Weight from Underweight on May 7.Positive▶
On May 11, 2026, Franklin Templeton announced the launch of its Private Markets Model Portfolios developed with Corastone, a platform focused on digital infrastructure and blockchain technology, signaling deeper push into alternatives distribution. Morgan Stanley upgraded BEN to Equal Weight from Underweight on May 7, 2026, citing improved fundamentals. Preliminary April 2026 AUM was $1.74T (up from $1.68T in March), driven by market performance and $10B in long-term net inflows, although Western Asset Management saw $1B in outflows. The stock has surged ~26.92% over the past month, recently reaching a new 52-week high above $30 after beating Q2 2026 estimates. Risk: continued Western Asset outflows and reliance on market beta to lift AUM.
May 12No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| BENFRANKLIN | $33.07 | -0.66% | +2.8% | 11.2x | 1.58 | $17.7B |
| BLKBLACKROCK | $1,050.83 | -0.62% | +4.8% | 16.3x | 1.44 | $161.9B |
| BXBLACKSTONE | $124.01 | -0.80% | +6.9% | 16.3x | 1.58 | $150.1B |
| BKBANK | $137.16 | +0.00% | — | 14.2x | 1.07 | $94.1B |
| KKRKKR | $96.93 | -0.25% | +5.5% | 12.7x | 1.79 | $87.5B |
| APOAPOLLO | $137.79 | -0.81% | +3.3% | 11.2x | 1.50 | $68.4B |
Key Fundamentals
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Price above both MAs — bullish structure.