|Bid||0.00 x 308300|
|Ask||0.00 x 2200|
|Day's range||49.99 - 50.00|
|52-week range||33.99 - 50.70|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||17.77|
|Earnings date||22 Oct 2019 - 28 Oct 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||49.10|
Franklin Resources (NYSE: BEN), a holding company that operates the investment management firm Franklin Templeton, just acquired competitor Legg Mason in a $4.5 billion deal that now makes the combined firm one of the world's largest in assets under management. As a result, Franklin Resources may have overpaid for the acquisition.
One might look at the performance of the financial sector this year, down about 18% as of Wednesday's close, and just write off the whole sector until better days. While some industries, like banks, for example, are struggling mightily through this recession, there are others, like fintechs and financial services, that are doing well. The 2010s were pretty much a lost decade for Franklin Resources (NYSE: BEN), the parent company of Franklin Templeton Investments.
Franklin (BEN) completes the acquisition of Legg Mason (LM), creating a strong separately-managed account business.