With a market cap of $12.6 billion, Franklin Resources, Inc. (BEN) is a global investment management company based in San Mateo, California. It generates most of its revenue and net income by offering investment management services to retail mutual funds, institutional and private accounts, and other investment products under various brands like Franklin, Templeton, and Legg Mason.
Shares of the asset management company have underperformed the broader market considerably over the past year. BEN has declined 2.5% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 26.9%. In 2024 alone, Franklin Resources stock dipped 19.9%, while $SPX rose 11.6% on a YTD basis.
