BEN

A month has gone by since the last earnings report for Franklin Resources (BEN). Shares have added about 7.5% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Franklin Resources due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for Franklin Resources, Inc. before we dive into how investors and analysts have reacted as of late. Franklin reported second-quarter fiscal 2026 (ended March 31, 2026) adjusted earnings of 71 cents per share, which surpassed the Zacks Consensus Estimate of 55 cents per share. Also, the bottom line compared favorably with 47 cents reported in the year-ago quarter. Results benefited from higher revenues. However, a slight decline in assets under management and elevated expenses remained headwinds. The results include certain items. After considering those, net income (GAAP basis) was $268.2 million, up 77.1% year over year. Revenues & Expenses Increase Y/Y Total operating revenues increased 8.7% year over year to $2.29 billion in the fiscal second quarter. The rise was due to an increase in all the components except other revenues. Further, the reported figure outpaced the Zacks Consensus Estimate of $2.18 billion. Investment management fees rose 8.7% year over year to $1.82 billion. Sales and distribution fees increased 8.7% year over year to $396.6 million. Shareholder-servicing fees rose 11.4% on a year-over-year basis to $69 million. Other revenues decreased 9% year over year to $10 million. Total operating expenses increased marginally year over year to $1.97 billion. The rise was due to an increase in compensation and benefits costs, sales, distribution and marketing costs, and general, administrative and other costs. Franklin reported an operating margin of 14.1% compared with 6.9% in the year-ago quarter. AUM Rises As of March 31, 2026, total AUM was $1.68 trillion, down marginally on a sequential basis. Franklin’s long-term net inflows were $16.9 billion in the reported quarter compared with $28 billion in the prior quarter. The average AUM was $1.70 trillion, which increased 1.5% on a sequential basis. Capital Position As of March 31, 2026, cash and cash equivalents and investments were $6.2 billion, while total...

SAN MATEO, Calif., May 20, 2026--(BUSINESS WIRE)--Franklin Resources, Inc. (the "Company") [NYSE:BEN] announced a quarterly cash dividend in the amount of $0.33 per share payable on July 10, 2026 to stockholders of record holding shares of common stock at the close of business on June 29, 2026. The quarterly dividend of $0.33 per share is equivalent to the dividend paid for the prior quarter and represents a 3.1% increase over the quarterly dividend paid for the same quarter last year. About Franklin Templeton Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity. To learn more, visit franklintempleton.com and follow us on LinkedIn. Franklin Resources, Inc. [NYSE: BEN] View source version on businesswire.com: https://www.businesswire.com/news/home/20260520042874/en/ Contacts Franklin Resources, Inc.Investor Relations: Selene Oh (650) 312-4091,[email protected] Media Relations: Jeaneen Terrio (212) 632-4005,[email protected] Website: investors.franklinresources.com

Shares of The Carlyle Group Inc. CG fell 3.5% in yesterday’s trading session on lower-than-expected quarterly results. The company reported first-quarter 2026 post-tax distributable earnings per share of 89 cents, missing the Zacks Consensus Estimate of 91 cents. The metric also declined from $1.14 in the year-ago quarter. Results were weighed down by a sharp pullback in realized performance revenues. However, a rise in the assets under management (AUM) balance was a positive. Net loss attributable to Carlyle was $132.2 million against net income of $130 million in the year-ago quarter. First-quarter segmental revenues were $750.9 million, which missed the Zacks Consensus Estimate by 16.4%. The top line also declined 28% from the year-ago quarter. Total segment fee revenues were $644 million, almost flat year over year. Fund management fees rose 3.6% year over year to $544.5 million, while transaction and portfolio advisory fees, net and other, declined 30.6% to $54.1 million. Fee-related performance revenues rose 14.9% to $45.4 million. Realized performance revenues declined 82.6% from the year-ago quarter to $61.8 million. Total segmental expenses fell 27.9% year over year to $423.9 million. As of March 31, 2026, total AUM was $475.4 billion, up 5% from the prior-year quarter. The fee-earning AUM was $333.4 billion, which rose 6% year over year. Pending fee-earning AUM was $21 billion, down 17% year over year. Global Private Equity’s total AUM was $159 billion as of March 31, 2026, down 3% year over year. The segment’s fee-related earnings were $139.6 million, down 1.1% year over year. Distributable earnings were $149.9 million, down 43.6%. Global Credit’s total AUM was $209 billion, up 5% year over year. Fee-related earnings were $92.9 million, down 10.6%. Distributable earnings were $98.2 million, down 11.1%. Carlyle AlpInvest’s total AUM was $107 billion, up 20% year over year. Fee-related earnings were $67.5 million, up 3.1%. Distributable earnings were $78.9 million, down marginally year over year. In the reported quarter, CG repurchased or withheld 3.8 million shares of common stock, including shares withheld in the net share settlement of equity awards, totaling $205 million. As of March 31, 2026, $1.9 billion worth of shares were available under the authorization. The company also declared a quarterly dividend of 35 cents per share. The dividend wi...

KKR & Co. Inc. KKR reported first-quarter 2026 net income per share of $1.39, surpassing the Zacks Consensus Estimate of $1.28 and rising from $1.15 in the prior-year quarter. Total segmental revenues amounted to $1.47 billion, which increased 22.4% on a year-over-year basis and beat the Zacks Consensus Estimate of $1.43 billion. KKR & Co. Inc. Price, Consensus and EPS Surprise KKR & Co. Inc. price-consensus-eps-surprise-chart | KKR & Co. Inc. Quote Results primarily reflect impressive growth in assets under management (AUM) and transaction fees for the capital markets business. However, despite a solid first-quarter performance, KKR shares fell nearly 2% since the release of the results, as the company stated that market volatility had dimmed its 2026 adjusted net income (ANI) per share growth outlook. During the first-quarter earnings call, chief financial officer Robert Lewin stated, "While we continue to generate very strong outcomes, we do have modestly less visibility today than what our budget would have suggested at this point in the year. As a result, if you are handicapping our ability to reach 2026 ANI of $7 per share, we do think it is more likely that we land below that level.” Nonetheless, KKR feels confident in its ability to exceed targets for fundraising, strategic holdings’ operating earnings and fee-related earnings on a per-share basis. The company is also targeting more than $100B AUM over time with Arctos Partners, which it acquired in May 2026. The primary driver for the increase in KKR’s top line was a rise in the AUM balance, which grew 14.1% year over year to $757.9 billion. AUM growth remained broad-based. Private Equity AUM increased to $231 billion, Real Assets reached $197.9 billion, and Credit and Liquid Strategies climbed to $328.9 billion, underscoring balance across the platform. More importantly for fee durability, fee-paying AUM rose to $614.8 billion, increasing 16.8% from the prior-year quarter. Perpetual capital totaled $326 billion, up 17% year over year, representing 43% of AUM and 51% of fee-paying AUM. KKR generated fee-related earnings of $1 billion, or $1.13 per adjusted share, up 23.5% year over year. Total operating earnings were $1.3 billion, or $1.47 per adjusted share, increasing 19.1%. At the segment level, total segment earnings rose to $1.63 billion from $1.39 billion a year ago. The mix continued to lean...

Make better investment decisions with Simply Wall St's easy, visual tools that give you a competitive edge. Franklin Resources (BEN) is back in focus after stronger than expected second quarter results, improved private markets fundraising, and upgraded guidance prompted upbeat commentary and rating changes from both Goldman Sachs and Barclays. See our latest analysis for Franklin Resources. At a share price of $29.70, Franklin Resources has seen a 26.92% 30 day share price return and a 24.79% year to date share price return. The 1 year total shareholder return of 56.92% suggests momentum has been building around the stronger recent earnings and guidance upgrades. If this kind of rebound has you thinking about what else is moving, it could be a good time to broaden your search with 17 top founder-led companies With earnings, fundraising and guidance all moving in Franklin Resources' favor, and the stock roughly in line with the average analyst price target, the key question is whether there is still a buying opportunity here or if the market is already pricing in future growth. At $29.70, the stock sits above the most followed narrative fair value estimate of $27.36, which is based on a detailed cash flow and earnings framework using an 8.39% discount rate. Read the complete narrative. Curious how a flat revenue profile, a higher profit margin, and a lower future P/E can still add up to that fair value target? The tension between cautious growth assumptions and a richer earnings profile is at the heart of this narrative, and the detailed numbers behind those calls might surprise you. Result: Fair Value of $27.36 (OVERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, persistent net outflows at Western Asset Management and ongoing fee compression could quickly challenge the more upbeat margin and earnings assumptions behind this fair value narrative. Find out about the key risks to this Franklin Resources narrative. While the most popular narrative tags Franklin Resources as 9% overvalued at $27.36, our DCF model paints a different picture. On that view, the stock at $29.70 sits about 10% below an intrinsic value of $32.99, which suggests a margin of safety rather than a stretched price. The contrast is sharp, and it depends on how much weight you place on flat revenue assumptions compared with improving margins...

Shares of Lazard Inc. LAZ plunged 6.9% in Friday’s trading session on lower-than-expected quarterly results. Its first-quarter 2026 adjusted earnings per share of 42 cents missed the Zacks Consensus Estimate of 52 cents. This compared unfavorably with earnings of 56 cents in the year-ago quarter. Lazard’s results were affected by lower revenues in the Financial Advisory and Corporate segments. An increase in operating expenses was also negative. However, an increase in assets under management (AUM) and higher revenue in the Asset Management segment supported the results to some extent. The results excluded certain non-recurring items. After considering those, Lazard’s net income (GAAP) was $100.9 million, which rose 67.1% from the prior-year quarter. Quarterly adjusted net revenues were $672.9 million, which rose 4.6% year over year. However, the top line missed the Zacks Consensus Estimate by 9.5%. Operating expenses increased 12.4% year over year to $667 million, primarily driven by higher compensation costs. The ratio of adjusted compensation expenses to operating revenues was 69.9%, higher than 65.5% in the year-ago quarter. The ratio of adjusted non-compensation expenses to operating revenues was 22.1%, down from 23% in the prior-year quarter. Financial Advisory: The segment’s adjusted operating revenues were $356.2 million, down 3.6% from the year-ago quarter. Asset Management: Segmental adjusted operating revenues of $308.8 million increased 16.8% year over year, driven by higher management fees and incentive fees. Corporate: Adjusted operating revenues from this segment were $7.9 million, down from $9.1 million in the year-ago quarter. As of March 31, 2026, total AUM was $259.2 billion, which increased 13.9% year over year. The average AUM in the reported quarter was $265.5 billion, up 15% from the year-ago quarter. The company’s cash and cash equivalents totaled $1.02 billion as of March 31, 2026, down 30.5% from the prior quarter. Total stockholders’ equity was $872.4 million, down 3.7% sequentially. In the first quarter of 2026, Lazard did not repurchase any common stock. As of March 31, 2026, approximately $107 million of authorization remained available for repurchase. In April 2026, Lazard announced that it had entered into a definitive agreement to acquire Campbell Lutyens for approximately $575 million, marking a significant expansion of its...

KKR & Co. Inc. KKR reported first-quarter 2026 net income per share of $1.39, surpassing the Zacks Consensus Estimate of $1.28. The bottom line rose from $1.15 in the prior-year quarter. KKR shares rallied nearly 1.6% in the early trading on better-than-expected results. A full day’s trading session will provide a clearer picture. Results have primarily reflected impressive growth in assets under management (AUM) and transaction fees for the capital markets business. However, an increase in expenses acted as a headwind. Net income attributable to the company (GAAP basis) was $364.8 million against a net loss of $185.9 million in the year-ago quarter. Total segment revenues amounted to $1.47 billion, increasing 22.4% on a year-over-year basis. The top line surpassed the Zacks Consensus Estimate of $1.43 billion. Total segment expenses increased 19.9% year over year to $452.6 million. As of March 31, 2026, total AUM grew 14.1% year over year to $757.9 billion. Fee-paying AUM summed $614.8 billion, which increased 16.8% from the year-ago quarter. Total operating earnings grew 19.1% year over year to $1.3 billion. The company posted fee-related earnings of $1 billion, up 23.5% year over year. The company declared a quarterly dividend of 19.5 cents per share of common stock, representing a 5.4% increase from the previous quarterly dividend of 18.5 cents per share. This dividend will be paid on May 29, 2026, to shareholders of record as of the close of business on May 15, 2026. The company also approved a $500 million increase to its existing share repurchase program, with the authorization set to automatically increase once the remaining capacity falls to $50 million or less. In May 2026, KKR completed its previously announced acquisition of Arctos Partners, a leading institutional investor in professional sports franchise stakes and asset management solutions. The transaction, which received the required sports league approvals, adds approximately $16 billion in assets under management and enhances KKR’s capabilities in sports investing and GP solutions. As part of the deal, Arctos’ leadership and operations have been integrated into KKR Solutions, a newly established investing platform that combines sports, GP solutions and secondary strategies, supporting the firm’s long-term growth in multi-asset class investing. The company will continue utilizing lucrative...

T. Rowe Price Group, Inc.’s TROW first-quarter 2026 adjusted earnings per share (EPS) of $2.52 surpassed the Zacks Consensus Estimate of $2.37. Nevertheless, the bottom line increased 13% year over year. Shares of the company gained 1.7% in the early trading session following the release of better-than-expected results. A full day’s trading session will depict a clearer picture. TROW's results benefited from higher investment advisory fees and a rise in assets under management (AUM). Positive capital allocation-based income was also encouraging. However, higher expenses acted as a headwind. The results included certain items. After considering those, net income attributable to T. Rowe Price (on a GAAP basis) was $498.2 million, which rose 1.6% from the prior-year quarter. Net revenues rose 5.3% year over year to $1.86 billion. Further, the top line missed the Zacks Consensus Estimate by 0.32%. Investment advisory fees rose 5.3% year over year to $1.68 billion. Capital allocation-based income increased to $28.1 million from a loss of $1.2 million in the prior-year quarter. Total operating expenses increased nearly 1% year over year to $1.18 billion in the reported quarter. On an adjusted basis, operating expenses were $1.15 billion, up 1.8% year over year. As of March 31, 2026, total AUM grew 9.1% year over year to $1.71 trillion. In the first quarter, net market depreciation and income of $52.2 billion unfavorably impacted T. Rowe Price’s AUM. Also, net cash outflows were $13.7 billion. The company had substantial liquidity, including cash and cash equivalents of $3.73 billion as of March 31, 2026, up from $2.84 billion as of March 31, 2025. This will enable TROW to keep investing. T. Rowe Price distributed a total of $629 million to shareholders through common stock dividends and share repurchases in the first quarter. TROW’s solid AUM balance, broadening distribution reach and efforts to diversify business through acquisitions and product enhancements are likely to support top-line growth. However, an elevated expense base and excessive reliance on investment advisory fees are concerns. The current tough operating environment is a headwind. Nonetheless, a solid liquidity position enables sustainable capital distributions. T. Rowe Price Group, Inc. price-consensus-eps-surprise-chart | T. Rowe Price Group, Inc. Quote Currently, TROW carries a Zacks Rank #4 (...

KKR & Co. Inc. KKR is slated to report first-quarter 2026 results on May 5, 2026, before the opening bell. Its earnings and revenues in the quarter are expected to have increased year over year. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate. Its results were adversely affected by an increase in expenses. Nonetheless, growth in assets under management (AUM) and fee-paying AUM acted as tailwinds. The company boasts an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average beat being 2.12%. KKR & Co. Inc. price-eps-surprise | KKR & Co. Inc. Quote The Zacks Consensus Estimate for earnings for the first quarter of 2026 is pegged at $1.28 per share, which has been revised downward over the past month. The figure indicates an increase of 11.3% from the year-ago quarter’s reported number. The consensus estimate for sales for the first quarter of 2026 is pegged at $1.43 billion, reflecting a 19.1% year-over-year increase. In February 2026, KKR announced an agreement to acquire Arctos Partners for $1.4 billion, expanding its presence in sports franchise investing and GP solutions. The deal adds Arctos’ roughly $15 billion AUM platform and strengthens KKR’s exposure to long-duration capital strategies. It is also expected to support the launch of KKR Solutions, an integrated platform combining sports investing, GP solutions and secondaries, which could scale to more than $100 billion in AUM over time. Earlier, in January 2026, the company also divested several business units of Janney Montgomery Scott LLC, a financial services firm in which it holds a majority stake, to Huntington Bancshares (HBAN). The transaction with HBAN allows KKR to monetize non-core assets while sharpening its focus on its core alternative investment and asset management businesses. Now, let us discuss the factors that are likely to have influenced KKR’s first-quarter performance. KKR has been witnessing increases in fee-earning AUM and total AUM, driven by its diversified product and revenue mix, superior position in the alternative investments space and net inflows. Given the increased client activity in the first quarter, KKR is expected to have recorded a rise in AUM balance as inflows strengthened. The Zacks Consensus Estimate for AUM is pegg...

Affiliated Managers Group Inc.’s AMG first-quarter 2026 economic earnings of $8.23 per share handily outpaced the Zacks Consensus Estimate of $8.10. The bottom line also jumped 58.3% from the prior-year quarter. Shares of the company rallied 1.8% in pre-market trading following impressive assets under management (AUM) balance growth, indicating the success of the company’s strategy of pivoting toward alternatives. Results benefited from record AUM balance and higher revenues. Also, the company had a robust liquidity position. A rise in expenses was the undermining factor. Economic net income was $224.6 million, up 41.5% year over year. Our estimate for the metric was $219.3 million. Quarterly total revenues rose 9.7% year over year to $544.9 million. The top line beat the Zacks Consensus Estimate of $543 million. Adjusted EBITDA was $317.3 million, up 39%. We had projected the metric to be $310.4 million. Total consolidated expenses rose 10.7% to $505.9 million. We had estimated total expenses to be $484.2 million. As of March 31, 2026, total AUM was a record $882 billion, which surged 23.8%. Our estimate for total AUM was $843.9 billion. Average AUM totaled $881.7 billion, up 23.8% year over year. Net client cash inflows were $22.2 billion in the reported quarter, reflecting ongoing momentum in alternative strategies. As of March 31, 2026, Affiliated Managers had $376.1 million in cash and cash equivalents compared with $586 million as of Dec. 31, 2025. The company had $2.92 billion of debt, up from $2.69 billion as of Dec. 31, 2025. Stockholders’ equity as of March 31, 2026, was $3.09 billion, down from $3.24 billion as of Dec. 31, 2025. During the first quarter, Affiliated Managers repurchased shares worth $186 million. Affiliated Managers is well-positioned for growth given the successful partnerships, focus on alternative strategies, global distribution capability and a diverse product mix. Substantial intangible assets on the company's balance sheet and elevated expense levels remain major concerns. Affiliated Managers Group, Inc. price-consensus-eps-surprise-chart | Affiliated Managers Group, Inc. Quote Affiliated Managers currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Franklin Resources Inc. BEN reported second-quarter fiscal 2026 (ended March 31, 2026) adjusted earnings of 7...

Franklin Resources, Inc. has reported its fiscal second-quarter 2026 results, with revenue rising to US$2.29 billion and net income increasing to US$268.2 million, while earnings per share from continuing operations reached US$0.49, all higher than the same period a year earlier. Beyond the headline results, the company highlighted US$16.9 billion in long-term net inflows and record levels in ETF and alternatives assets, underlining growing client demand across its diversified global platform. We’ll now examine how this combination of stronger earnings and US$16.9 billion in long-term net inflows may influence Franklin Resources’ investment narrative. Find 53 companies with promising cash flow potential yet trading below their fair value. To own Franklin Resources, you have to believe its diversified active, alternatives, and ETF platform can keep attracting assets despite fee pressure and intense competition. The latest quarter’s higher revenue and earnings, alongside US$16.9 billion in long-term net inflows, support that view and ease near term worries about persistent outflows and integration drag. However, the quality and durability of these inflows, especially relative to fee compression and acquisition costs, remain central risks to watch. Among recent announcements, the firm’s growing alternatives footprint stands out as most relevant to this earnings beat. Management reported US$283 billion in alternative AUM and strong private markets fundraising, which ties directly into the bullish catalyst that higher margin alternatives could gradually offset fee pressure in lower cost products. Whether these inflows translate into sustainably higher profitability or are absorbed by integration and operating expenses is what investors will want to track next. Yet behind the strong quarter, investors should still pay close attention to the risk that ongoing fee compression and product mix shifts could quietly erode the very earnings power that... Read the full narrative on Franklin Resources (it's free!) Franklin Resources' narrative projects $8.7 billion revenue and $1.1 billion earnings by 2029. This implies fairly flat yearly revenue growth and a roughly $500 million earnings increase from about $562.8 million today. Uncover how Franklin Resources' forecasts yield a $27.36 fair value, a 7% downside to its current price. Some analysts were already expecting a m...

Affiliated Managers Group Inc. AMG is scheduled to announce first-quarter 2026 results on May 1, before the opening bell. Its quarterly earnings and revenues are expected to have improved year over year. In the last reported quarter, AMG’s earnings beat the Zacks Consensus Estimate. Results benefited from a rise in assets under management (AUM) and revenues. A rise in expenses was the undermining factor. The company boasts an impressive earnings surprise history. Its earnings surpassed the consensus estimate in three of the trailing four quarters and matched once, with the average beat being 4.35%. Affiliated Managers Group, Inc. price-eps-surprise | Affiliated Managers Group, Inc. Quote In February, Affiliated Managers announced the acquisition of a minority equity stake in HighBrook Investors, a real estate investment manager specializing in thematic value-add opportunities in the United States and Europe. HighBrook has committed more than $2.3 billion of equity across more than 80 investments. The firm’s gross asset value totaled approximately $5.7 billion through its flagship fund series and co-investment vehicles. Management expects adjusted EBITDA in the $310-$330 million range based on the current AUM levels and net performance fees of $40-$60 million. This includes the impact of the 2025 new investments and affiliate sales and the partial impact of additional investment in Garda and new investment in HighBrook. Interest expenses are expected to be $37 million. Controlling interest depreciation is likely to be $1 million. Net income (controlling interest) is expected to be between $174 million and $189 million. The company’s share of reported amortization and impairments is anticipated to be $30 million. Intangible-related deferred taxes are projected to be $14 million. Other economic items, which now include realized gains, are anticipated to be roughly $1 million. Our quantitative model predicts an earnings beat for Affiliated Managers this time. This is because it has the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter. Earnings ESP: The Earnings ESP for Affiliated Managers is +8.76%. Zacks Rank: The company currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks...