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Franklin Templeton Investments
Type
Public company
Traded as NYSE: BEN
S&P 500 Component
Industry Financial Services
Founded New York City, U.S. (1947)
Founder [Rupert H. Johnson, Sr.]]
Headquarters San Mateo, California
Key people
Greg Johnson (CEO)
Rupert Johnson, Jr.
Vice Chairman
Jennifer M. Johnson
President
Products Mutual funds,
Retirement Planning
Revenue
  • Increase US$ 7.985 billion (2013)
  • Decrease US$ 7.101 billion (2012)
Operating income
  • Increase US$ 2.9213 billion (2013)
  • Decrease US$ 2.5152 billion (2012)
Net income
  • Increase US$ 2.1502 billion (2013)
  • Increase US$ 1.9314 billion (2012)
AUM US$740 Billion (2017)
Total assets
  • Increase US$ 15.3903 billion (2013)
  • Increase US$ 14.7515 billion (2012)
Total equity
  • Increase US$ 10.6855 billion (2013)
  • Increase US$ 9.7605 billion (2012)
Number of employees
9,000 (2014)
Website franklintempleton.com

Franklin Resources Inc. is an American holding company that, together with its subsidiaries, is referred to as Franklin Templeton Investments; it is a global investment firm founded in New York City in 1947 as Franklin Distributors, Inc. It is listed on the New York Stock Exchange under the ticker symbol BEN, in honor of Benjamin Franklin, for whom the company is named, and who was admired by founder Rupert Johnson, Sr. In 1973 the company's headquarters moved from New York to San Mateo, California. Today, Franklin Templeton Investments is one of the world's largest asset management groups with US$740 billion in assets under management (AUM) on behalf of private, professional and institutional investors as of March 31, 2017.

The company was founded in 1947 in New York by Rupert H. Johnson, Sr., who ran a successful retail brokerage firm from an office on Wall Street. He named the company for American polymath Benjamin Franklin because Franklin espoused frugality and prudence when it came to saving and investing. The company's first line of mutual funds, Franklin Custodian Funds, was a series of conservatively managed equity and bond funds designed to appeal to most investors.

After Rupert Sr. retired, his son, Charles B. Johnson (Charlie), took over as president and chief executive officer in 1957 at age 24. There were only a handful of employees at that time and the funds had total assets under management of US$2.5 million.

By the early 1960s the company was growing, albeit slowly. It was a struggle to keep up with the day-to-day demands of the business and Charlie continued to wear many hats—mutual fund manager, wholesaler, accountant. Rupert Johnson, Jr., Charlie's brother, joined the company in 1965 and also took on multiple roles.

Franklin went public in 1971, which gave Charlie and team the capital needed to grow the business and position it for the future. In 1973, the company acquired Winfield & Company, a San Mateo, California-based investment firm, and moved Franklin's offices from New York to California. The combined organization had close to US$250 million in assets under management and approximately 60 employees. In 1979, Franklin Money Fund began a growth surge that made it Franklin's first billion-dollar fund and launched the company's significant asset growth in the 1980s.

Starting in 1980, the company's total assets under management doubled (or nearly doubled) every year for the next six years. The company's stock began trading on the New York Stock Exchange in 1986. In the same year, the company opened its first office outside North America in Taiwan. In 1988, Franklin acquired L.F. Rothschild Fund Management Company. Assets under management for Franklin grew from just over US$2 billion in 1982 to more than US$40 billion in 1989 (the crash of 1987 had little impact on Franklin's income and bond funds).

In October 1992, Franklin acquired Templeton, Galbraith & Hansberger Ltd. for a reported cost of $913 million, leading to the common name Franklin Templeton. Mutual fund pioneer Sir John Templeton was the owner of Templeton, Galbraith & Hansberger Ltd together with his son Dr. John Templeton and John Galbraith who together owned 70% of the firm.

In November 1996, Heine Securities Corporation, known for the Mutual Series of funds, merged into the Franklin Templeton complex. In October 2000, Franklin acquired Bissett Funds to increase its Canadian presence, and Bissett remains a key brand from Franklin in the Canadian market. The Fiduciary Trust Company was acquired by Franklin Templeton in April 2001.

Fiduciary Trust Company, a member of the Franklin family, maintained an office of over 650 employees in Two World Trade Center during the September 11 attacks in 2001. 87 employees died in the collapse. Ann Tatlock, the CEO of Fiduciary Trust Co. International was at Offutt Air Force Base in Omaha for a charity event hosted by Warren Buffett.

The firm specializes in conservatively managed mutual funds. It offers products under the Franklin, Templeton, Mutual Series and Fiduciary brand names. Like other large investment companies, the firm offers a wide variety of funds but is traditionally best known for bond funds under the Franklin brand, international funds under the Templeton brand, and value funds under the Mutual Series brand.

As of July 31, 2008, Franklin Resources, Inc. managed over $570 billion in total assets worldwide. In April 2007, Franklin Resources was 445th in the Fortune 500, and 7th overall among securities companies.

In April 2007, USA Today listed BEN stock as the top stock pick for the last 25 years based on returns, claiming it is up 64,224% since 1982. In February 2009, Barron's Magazine called Franklin Templeton "King of the Decade" among fund families over the ten-year period ending in 2008.

The company sponsored a tennis tournament, the Franklin Templeton Classic.

The firm continues to make strategic investments and acquisitions, including asset managers in Australia and the UK, that further broaden and diversify its capabilities. Today, Franklin Templeton is one of the largest independent global asset management firms in the world with offices in 35 countries and clients in more than 150. In 2013, Charlie Johnson retired as chairman and Greg Johnson became chairman of the board, CEO and president.

Franklin Templeton has over 200 different open-ended mutual funds and 7 closed-end funds in the fund family. Included in these are 36 state and federal tax free income funds, an area of investment pioneered by Franklin.

Prominent funds in the fund family include the Templeton Growth Fund, Inc. (opened 1954, $29.5bn assets), the Mutual Shares fund (opened 1949, $7.9bn assets), and the Mutual Discovery Fund (opened 1992, $7.6bn assets) and the Templeton Growth (Euro) Fund A (acc) ($6.1bn assets).

The Franklin Income Fund (FKINX, assets $33.6bn) is a mutual fund in Morningstar's "conservative allocation" category and "large/value" style box. The fund was created in 1948 and has paid uninterrupted dividends for 60 years. The Franklin Income Fund is constructed primarily of dividend-paying stocks and bonds (2%).

In 2004, Franklin Templeton paid fines to the State of California, the Commonwealth of Massachusetts, and the U.S. Securities and Exchange Commission to settle issues regarding questionable practices including market timing. The plan for distribution of settlement monies of $50 million was completed in September 2006, and all distributions have been completed as of December 2008.

A settlement was also completed with the Ontario Securities Commission concerning Bissett Funds in September 2005.

President of Pennsylvania (1785–1788), Ambassador to France (1779–1785)

News

Franklin Resources, Inc. 1.92% (financial)

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q1 2021 2021-01-28 Future report Set alerts
Q4 2020 2020-10-23 Future report Set alerts
Q3 2020 2020-07-28 0.58 0.58
Q2 2020 2020-04-30 0.16 0.16
Q1 2020 2020-01-30 0.70 0.70
Q4 2019 2019-10-25 0.61 0.61
Q3 2019 2019-07-30 0.48 0.48
Q2 2019 2019-04-26 0.72 0.72
Q1 2019 2019-01-30 0.54 0.54
Q4 2018 2018-10-25 1.13 0.96

Ratings

2016-07-11 Lower Price Target Jefferies Group Hold $38.00 to $34.00
2016-07-10 Reiterated Rating Deutsche Bank AG Hold
2016-06-16 Lower Price Target Deutsche Bank Hold $37.00 to $35.00
2016-06-16 Lower Price Target Deutsche Bank AG Hold $37.00 to $35.00
2016-06-10 Reiterated Rating Barclays Sell
2016-06-10 Reiterated Rating Barclays PLC Sell
2016-06-09 Boost Price Target Citigroup Inc. Neutral $37.50 to $38.00
2016-06-09 Lower Price Target Barclays Underweight $32.00 to $31.00
2016-04-18 Reiterated Rating Deutsche Bank Hold
2016-04-12 Boost Price Target Jefferies Group $38.00
2016-04-09 Reiterated Rating JPMorgan Chase & Co. Hold
2016-04-07 Boost Price Target JPMorgan Chase & Co. Neutral $33.00 to $37.00
2016-04-06 Reiterated Rating Deutsche Bank Hold to Neutral
2016-04-06 Reiterated Rating Barclays Sell
2016-03-17 Boost Price Target Deutsche Bank Hold $34.00 to $35.00
2016-03-15 Downgrade Bank of America Neutral to Underperform
2016-03-15 Downgrade Bank of America Corp. Neutral to Underperform
2016-03-09 Lower Price Target Sandler O'Neill Hold $40.00 to $6.00
2016-03-09 Boost Price Target Barclays Underweight $31.00 to $32.00
2016-02-23 Boost Price Target Citigroup Inc. Neutral $36.00
2016-02-09 Lower Price Target Barclays Underweight $32.00 to $31.00
2016-02-09 Lower Price Target Deutsche Bank Hold $32.00 to $31.00
2016-02-04 Lower Price Target Keefe, Bruyette & Woods Market Perform $40.00 to $39.00
2016-02-04 Lower Price Target JPMorgan Chase & Co. $36.00 to $33.00
2016-02-04 Lower Price Target Goldman Sachs Sell $34.00 to $32.00
2016-02-04 Reiterated Rating Barclays Underweight $35.00 to $32.00
2016-02-04 Lower Price Target RBC Capital Sector Perform $43.00 to $38.00
2016-02-04 Reiterated Rating Piper Jaffray Hold $43.00 to $40.00
2016-02-04 Reiterated Rating Piper Jaffray Cos. Hold $43.00 to $40.00
2016-02-04 Lower Price Target Goldman Sachs Group Inc. Sell $34.00 to $32.00
2016-02-04 Lower Price Target Royal Bank Of Canada Sector Perform $43.00 to $38.00
2016-01-26 Lower Price Target Deutsche Bank Hold $32.00 to $31.00
2016-01-19 Lower Price Target Deutsche Bank Hold $36.00 to $32.00
2016-01-14 Lower Price Target JPMorgan Chase & Co. $42.00 to $36.00
2016-01-12 Reiterated Rating Morgan Stanley Equal Weight $1.00 to $41.00
2016-01-11 Lower Price Target Keefe, Bruyette & Woods Market Perform $43.00 to $40.00
2016-01-08 Lower Price Target Deutsche Bank Hold $38.00 to $36.00
2016-01-07 Lower Price Target Susquehanna Neutral $47.00 to $40.00
2016-01-07 Lower Price Target Sanford C. Bernstein $41.00 to $40.00
2016-01-04 Downgrade Credit Suisse Neutral to Underperform $41.00 to $37.00
2016-01-04 Downgrade Credit Suisse Group AG Neutral to Underperform $41.00 to $37.00
2015-12-22 Lower Price Target Sanford C. Bernstein Market Perform $43.00 to $41.00
2015-12-11 Lower Price Target Sanford C. Bernstein Market Perform $47.00 to $43.00
2015-12-08 Downgrade Barclays Equal Weight to Underweight $39.00 to $36.00
2015-12-03 Reiterated Rating Keefe, Bruyette & Woods Market Perform $60.00 to $58.00
2015-12-03 Reiterated Rating RBC Capital Sector Perform $55.00 to $54.00
2015-12-03 Reiterated Rating JPMorgan Chase & Co. Neutral $55.00 to $52.00
2015-12-03 Reiterated Rating Deutsche Bank Hold $56.00 to $55.00
2015-12-03 Reiterated Rating Barclays Equal Weight to Equal Weight $59.00 to $58.00
2015-11-24 Boost Price Target Susquehanna Neutral $44.00 to $47.00
2015-11-10 Boost Price Target Morgan Stanley Equal Weight $40.00 to $42.00
2015-11-03 Boost Price Target Susquehanna Neutral $40.00 to $44.00
2015-10-28 Downgrade RBC Capital Sell
2015-10-23 Lower Price Target RBC Capital $49.00 to $43.00
2015-10-23 Lower Price Target Sanford C. Bernstein Market Perform $55.00 to $47.00
2015-10-23 Lower Price Target Barclays Equal Weight $40.00 to $39.00
2015-10-09 Lower Price Target Susquehanna Neutral $45.00 to $40.00
2015-10-09 Downgrade Deutsche Bank Buy to Hold $44.00 to $40.00
2015-10-08 Lower Price Target Credit Suisse $38.00
2015-10-08 Lower Price Target Barclays Equal Weight $41.00 to $40.00
2015-10-07 Reiterated Rating Jefferies Group Hold $48.00 to $58.00
2015-10-05 Reiterated Rating JPMorgan Chase & Co. Neutral $45.00 to $42.00
2015-09-10 Lower Price Target Citigroup Inc. Neutral $51.00 to $45.00
2015-09-10 Lower Price Target Barclays Equal Weight $42.00 to $41.00
2015-09-09 Upgrade Deutsche Bank Hold to Buy $48.00 to $46.00
2015-09-08 Reiterated Rating JPMorgan Chase & Co. Neutral $53.00 to $45.00
2015-09-03 Lower Price Target Susquehanna Neutral $50.00 to $45.00
2015-09-03 Lower Price Target Keefe, Bruyette & Woods Market Perform $54.00 to $46.00
2015-08-26 Lower Price Target Barclays Equal Weight $46.00 to $42.00
2015-08-17 Reiterated Rating Deutsche Bank Hold $48.00
2015-08-11 Lower Price Target Barclays Equal Weight $48.00 to $46.00
2015-08-09 Reiterated Rating Standpoint Research Hold $48.00
2015-08-06 Reiterated Rating Jefferies Group Hold $48.00
2015-08-03 Lower Price Target Citigroup Inc. Neutral $52.00 to $51.00
2015-07-30 Lower Price Target Keefe, Bruyette & Woods Market Perform $55.00 to $54.00
2015-07-30 Reiterated Rating RBC Capital Sector Perform $54.00 to $49.00
2015-07-10 Lower Price Target Barclays Equal Weight $50.00 to $48.00
2015-07-10 Lower Price Target Citigroup Inc. Neutral $55.00 to $52.50
2015-07-10 Reiterated Rating Deutsche Bank Hold $52.00 to $51.00
2015-07-10 Reiterated Rating Morgan Stanley Equal Weight $61.00 to $59.00
2015-07-09 Lower Price Target Susquehanna Neutral $58.00 to $54.00
2015-07-02 Lower Price Target Deutsche Bank Hold $56.00 to $52.00
2015-06-08 Initiated Coverage Goldman Sachs Sell $49.00
2015-06-02 Initiated Coverage Piper Jaffray Neutral $59.00
2015-05-08 Boost Price Target Deutsche Bank Hold $55.00 to $56.00
2015-05-08 Lower Price Target Barclays Equal Weight $52.00 to $50.00
2015-04-30 Boost Price Target Barclays Equal Weight $51.00 to $52.00
2015-04-30 Boost Price Target Citigroup Inc. Neutral $53.00 to $55.00
2015-04-13 Reiterated Rating Deutsche Bank Hold $54.00 to $55.00
2015-04-02 Lower Price Target Deutsche Bank Hold $55.00 to $54.00
2015-03-05 Reiterated Rating Keefe, Bruyette & Woods Hold $57.00 to $60.00
2015-02-20 Lower Price Target Barclays Equal Weight $58.00 to $55.00
2015-02-02 Lower Price Target Keefe, Bruyette & Woods Market Perform $60.00 to $57.00
2015-02-02 Reiterated Rating JPMorgan Chase & Co. Hold $55.00 to $52.00
2015-02-02 Lower Price Target Deutsche Bank Hold $56.00 to $55.00
2015-02-02 Reiterated Rating Citigroup Inc. Hold $59.00 to $53.00
2015-01-14 Downgrade Goldman Sachs Buy to Neutral $56.00
2015-01-13 Lower Price Target Barclays Equal Weight $61.00 to $59.00
2015-01-13 Downgrade Bank of America Buy to Neutral $62.00 to $60.00
2015-01-08 Lower Price Target Keefe, Bruyette & Woods Market Perform $61.00 to $60.00
2015-01-07 Downgrade Sandler O'Neill Buy to Hold
2014-12-12 Reiterated Rating Deutsche Bank Hold $56.00 to $57.00
2014-12-09 Reiterated Rating Keefe, Bruyette & Woods Hold $60.00 to $61.00
2014-12-04 Initiated Coverage Barclays Equal Weight $61.00
2014-11-27 Reiterated Rating S&P Equity Research Strong-Buy
2014-11-20 Downgrade Sanford C. Bernstein Outperform to Market Perform $65.00 to $60.00
2014-10-28 Reiterated Rating JPMorgan Chase & Co. Neutral $64.00 to $57.00
2014-10-28 Reiterated Rating Keefe, Bruyette & Woods Market Perform $61.00 to $60.00
2014-10-14 Reiterated Rating Deutsche Bank Hold $57.00 to $53.00
2014-10-14 Reiterated Rating Bank of America Buy $62.00 to $58.00
2014-10-08 Reiterated Rating Citigroup Inc. Neutral $60.00 to $59.00
2014-10-08 Reiterated Rating Keefe, Bruyette & Woods Market Perform $64.00 to $61.00
2014-10-06 Upgrade S&P Equity Research Strong-Buy
2014-10-01 Reiterated Rating JPMorgan Chase & Co. Neutral $58.00 to $64.00
2014-09-11 Boost Price Target Deutsche Bank Hold $58.00 to $59.00
2014-09-10 Boost Price Target Citigroup Inc. $59.00 to $60.00
2014-07-31 Reiterated Rating JPMorgan Chase & Co. Neutral $61.00 to $58.00
2014-07-31 Reiterated Rating Deutsche Bank Hold $60.00 to $58.00
2014-07-31 Lower Price Target Morgan Stanley $63.00 to $61.00
2014-07-31 Boost Price Target Keefe, Bruyette & Woods $63.00 to $64.00
2014-07-31 Downgrade Citigroup Inc. Buy to Neutral $61.00 to $59.00
2014-07-15 Boost Price Target BMO Capital Markets $62.00 to $65.00
2014-07-14 Reiterated Rating Deutsche Bank Hold $58.00 to $60.00
2014-07-14 Reiterated Rating Keefe, Bruyette & Woods Hold $60.00 to $63.00
2014-07-10 Boost Price Target Susquehanna $57.00 to $59.00
2014-07-01 Downgrade UBS Buy to Neutral $59 to $59
2014-07-01 Boost Price Target JPMorgan Chase & Co. Neutral $58.00 to $61.00
2014-06-18 Upgrade Goldman Sachs Neutral to Buy $53.00 to $63.00
2014-05-15 Initiated Coverage Deutsche Bank Hold $58.00
2014-05-06 Reiterated Rating Susquehanna Neutral $59.00 to $57.00
2014-04-29 Reiterated Rating JPMorgan Chase & Co. Neutral $58.00
2014-04-29 Reiterated Rating Credit Suisse Neutral $58.00 to $57.00
2014-04-29 Lower Price Target Sandler O'Neill $61.00
2014-04-29 Lower Price Target Keefe, Bruyette & Woods $61.00 to $60.00
2014-04-15 Reiterated Rating JPMorgan Chase & Co. Hold $59.50 to $60.00
2014-04-09 Boost Price Target Susquehanna $57.00 to $59.00
2014-04-08 Lower Price Target Morgan Stanley $60.00 to $59.00
2014-04-04 Downgrade Keefe, Bruyette & Woods Outperform to Market Perform $63.00 to $61.00
2014-03-19 Lower Price Target Credit Suisse $62.00 to $58.00
2014-02-11 Reiterated Rating Morgan Stanley Equal Weight $65.00
2014-02-11 Downgrade Susquehanna Positive to Neutral $60.00 to $57.00
2014-01-31 Lower Price Target Credit Suisse $64.00 to $62.00
2014-01-14 Boost Price Target JPMorgan Chase & Co. $55.50 to $61.50
2014-01-10 Boost Price Target Keefe, Bruyette & Woods Outperform $62.00 to $66.00
2013-11-22 Upgrade Evercore ISI Equal Weight to Overweight $51.00 to $64.00
2013-11-11 Initiated Coverage RBC Capital Sector Perform $59.00
2013-10-25 Boost Price Target Sandler O'Neill Buy $61.00 to $65.00
2013-10-25 Boost Price Target Keefe, Bruyette & Woods Outperform $58.00 to $62.00
2013-10-15 Boost Price Target Susquehanna Positive $58.00 to $60.00
2013-10-09 Boost Price Target Keefe, Bruyette & Woods Outperform $57.00 to $58.00
2013-10-08 Boost Price Target JPMorgan Chase & Co. Neutral $48.00 to $54.00
2013-10-08 Initiated Coverage Evercore ISI Neutral
2013-10-03 Reiterated Rating BMO Capital Markets Buy $58.00
2013-10-03 Boost Price Target Morgan Stanley Equal Weight $51.00 to $54.00
2013-03-12 Reiterated Stifel Buy $155 to $164
2011-03-28 Downgrade Ticonderoga Buy to Neutral
2016-07-11 Lower Price Target Jefferies Group Hold $38.00 to $34.00
2016-07-10 Reiterated Rating Deutsche Bank AG Hold
2016-06-16 Lower Price Target Deutsche Bank Hold $37.00 to $35.00
2016-06-16 Lower Price Target Deutsche Bank AG Hold $37.00 to $35.00
2016-06-10 Reiterated Rating Barclays Sell

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
JOHNSON RUPERT H JR Vice Chairman 16.63%  (103976045) BEN /
FRANKLIN RESOURCES INC 3.03%  (18927023) BEN / DYN / GDP / HK /
JOHNSON GREGORY E Chairman, CEO and President 0.33%  (2049530) BEN /
JOHNSON JENNIFER M EVP & Chief Operating Officer 0.25%  (1552280) BEN /
JOHNSON CHARLES B 0.22%  (1350000) BEN /
TATLOCK ANNE M 0.08%  (480230) BEN /
Yun William Young EVP-Alternative Strategies 0.02%  (152711) BEN /
LEWIS KENNETH A EVP and CFO 0.02%  (133614) BEN /
Tyle Craig Steven EVP and General Counsel 0.02%  (133590) BEN /
Advani Vijay Chandur EVP - Global Advisory Services 0.02%  (107858) BEN /
Plafker Jed A. Reg. S-K Executive Officer 0.01%  (65683) BEN /
LUSK JOHN M EVP-Investment Management 0.01%  (42888) BEN /
Sethi Alok Reg. S-K Executive Officer 0.01%  (33500) BEN /

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