Weaker Markets Lead To Lower AUM At Franklin Resources (BEN)

Deutsche Bank DB released a client note today on Franklin Resources BEN. The analysts wrote that the pull back in equity markets has led to a 4.9% sequential decline in month-end assets under management. According to the report, "while it is difficult to estimate flows in a given month, we view the results for the month as decent given the market pullback." The firm said that they are not changing estimates on BEN. According to Deutsche Bank, "BEN remains well positioned longer term with diversified products and distribution, solid long term investment performance, and a strong balance sheet." The firm reiterated their Hold rating, however, citing dollar strength and industry trends as offsetting factors. Deutsche Bank has a $115.00 price target on the stock. During the current session, BEN has gained 0.45% to $90.56.