SAN MATEO, Calif. - Franklin Resources, Inc. (NYSE: NYSE:BEN), also known as Franklin Templeton, has reported a rise in its preliminary month-end assets under management (AUM) to $1.64 trillion as of March 31, 2024. This figure is up from $1.62 trillion recorded at the end of February 2024.
The investment management organization has attributed the increase in AUM to positive market conditions and long-term net inflows, including a notable $8.1 billion from its relationship with Great-West Lifeco. For the quarter ending on March 31, 2024, the company saw long-term net inflows of $6.9 billion, which included $13.6 billion associated with Great-West Lifeco, despite a $2.0 billion redemption by a fixed income institutional client.
A breakdown by asset class reveals that equity AUM rose to $592.7 billion from $572.8 billion the previous month. Fixed income assets increased slightly to $571.4 billion, and multi-asset class AUM saw a modest rise to $163.4 billion. However, alternative investments experienced a slight decrease, settling at $255.5 billion.
Franklin Templeton, with a global presence and subsidiaries serving clients in over 150 countries, offers a range of investment management expertise including fixed income, equity, alternatives, and multi-asset solutions. The company, headquartered in California, boasts more than 75 years of investment experience and employs over 1,400 investment professionals across major financial markets worldwide.
The financial results mentioned in this report are preliminary and include forward-looking statements under the safe harbor protection of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially.
InvestingPro Insights
Franklin Resources, Inc. (NYSE: BEN), known as Franklin Templeton, not only reported an uptick in assets under management but also demonstrates a robust financial backbone. With a market cap of $14.44 billion and a price-to-earnings (P/E) ratio that stands at 14.31, the company presents a stable investment profile. The adjusted P/E ratio for the last twelve months as of Q1 2024 further refines this perspective to 13.07, signaling potential value for investors looking at earnings power.
InvestingPro Tips reveal that Franklin Templeton has a commendable track record of maintaining dividend payments for 44 consecutive years, a testament to its financial consistency and reliability for income-focused investors. Moreover, the company's liquid assets surpassing its short-term obligations indicate a solid financial position to address near-term liabilities. Analysts are optimistic, predicting profitability for the current year, which aligns with the company's performance over the last twelve months.
For those interested in dividend income, the dividend yield stands at an attractive 4.55% as of the latest data, coupled with a dividend growth of 3.33% over the last twelve months. While past performance is not indicative of future results, these figures, combined with the company's stability, could be compelling for those seeking steady returns.
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