Franklin Resources Management
Management criteria checks 4/4
Franklin Resources' CEO is Jenny Johnson, appointed in Feb 2020, has a tenure of 6.33 years. total yearly compensation is $16.84M, comprised of 4.5% salary and 95.5% bonuses, including company stock and options. directly owns 1.19% of the company’s shares, worth $188.30M. The average tenure of the management team and the board of directors is 5.8 years and 8.8 years respectively.
Key information
Jenny Johnson
Chief executive officer
US$16.8m
Total compensation
| CEO salary percentage | 4.45% |
| CEO tenure | 6.3yrs |
| CEO ownership | 1.2% |
| Management average tenure | 5.8yrs |
| Board average tenure | 8.8yrs |
Recent management updates
Recent updates
Narrative Update • Jun 03
BEN: Digital Asset Expansion And Traditional Fee Model Will Support Future Repricing
Narrative Update on Franklin Resources The updated analyst price target for Franklin Resources has moved from about $35.05 to $37.00. Analysts attribute this change to modestly adjusted growth assumptions, a slightly lower discount rate, and a higher assumed profit margin and future P/E, as they factor in recent research highlighting the relative appeal of traditional asset managers as well as fresh upgrades and target hikes across the Street.
Narrative Update • May 18
BEN: Softer Revenue And Execution Risks Will Constrain Future P/E Upside
Analysts have lifted the fair value estimate for Franklin Resources by $3 to $24, citing updated price targets across several firms, as well as modestly higher assumed profit margins and future P/E multiples, despite softer revenue growth expectations. Analyst Commentary Street research on Franklin Resources has been mixed, with several firms lifting price targets and issuing upgrades, while a smaller group of bearish analysts trimmed expectations.Seeking Alpha • May 01
Franklin Resources: Turning The Corner
Summary Franklin Resources has reignited growth through diversification, strong alternatives inflows, and improved operational leverage, following years of outflows and mixed M&A results. Fiscal Q2 2026 saw positive long-term net inflows of $16.9 billion, with alternatives contributing a record $14.3 billion and ex-Western flows gaining momentum. Operating margins are expanding, with management targeting high-29% exiting FY Q4 and >30% by 2027, supported by conservative assumptions and ongoing cost discipline. Key risks remain around capital misallocation via M&A, but dividend increases and a focus on bolt-on deals help mitigate this; catalysts include Lexington fundraising and margin updates. Read the full article on Seeking AlphaNarrative Update • Apr 22
BEN: Modest Revenue Erosion And Lower P/E Assumptions Will Pressure Returns
Franklin Resources' updated analyst price target holds steady at $21.00, as recent mixed Street revisions, including both $1 and $3 moves in targets, reflect analysts balancing modest tweaks to the discount rate, revenue growth expectations, profit margin and forward P/E assumptions. Analyst Commentary Recent Street research around Franklin Resources has featured a mix of small upward and downward price target adjustments, with several bearish analysts trimming targets by $1 to $3.Narrative Update • Apr 08
BEN: Weaker Revenue Profile And Compressed P/E Will Pressure Future Returns
Analysts trimmed their Franklin Resources fair value estimate by $1 to $21, reflecting refreshed price targets that weigh slightly weaker revenue assumptions against modestly stronger margin and P/E inputs. Analyst Commentary Recent Street research on Franklin Resources has been mixed, with some firms lifting price targets and others trimming them by small amounts.
Narrative Update • Mar 25
BEN: AI Distribution Efficiencies Will Support Future Earnings Resilience
Analysts raised their average price target on Franklin Resources by a few dollars to account for recent upward revisions from firms such as Morgan Stanley, TD Cowen and Barclays, citing updated assumptions for discount rates and P/E expectations rather than major changes in fair value, revenue growth or profit margins. Analyst Commentary Recent research shows a mix of optimism and caution around Franklin Resources, with several firms adjusting their price targets by relatively small amounts.Narrative Update • Mar 10
BEN: Higher P/E Assumptions Will Restrain Returns As Profitability Expectations Weaken
The analyst fair value estimate for Franklin Resources has shifted from $21.00 to $22.00, reflecting updated views on discount rates, revenue growth, profit margins, and future P/E assumptions that have also informed recent price target changes cited across Street research. Analyst Commentary Recent Street research around Franklin Resources has featured mixed views, with some firms adjusting price targets higher while others have taken a more cautious stance.Narrative Update • Feb 24
BEN: Capital Returns And AI Initiatives Will Shape Future Earnings Resilience
Analysts have raised their price target for Franklin Resources from $24.73 to $27.36, citing updated assumptions for discount rates, profit margins, and a higher future P/E multiple as support for the change. Analyst Commentary Recent Street research on Franklin Resources reflects a mixed but generally constructive tone, with several firms adjusting price targets in both directions over a relatively short period.Narrative Update • Feb 10
BEN: Higher Future P E And Buybacks Will Support Upside Repricing
Narrative Update Analysts have lifted their price target for Franklin Resources from about US$30 to roughly US$35. This change reflects updated assumptions around fair value, discount rate, revenue growth, profit margins, and the P/E multiple following recent target revisions from several firms.Narrative Update • Jan 27
BEN: Higher Future P E And Buybacks Will Support Upside Potential
Analysts have adjusted their price targets for Franklin Resources recently, and the latest update reflects a fair value move to $30.00 as they balance softer revenue growth and profit margin assumptions with a higher future P/E expectation and updated discount rate inputs. Analyst Commentary Recent research on Franklin Resources reflects a mix of cautious and constructive views, with the latest fair value work centering around the updated $30.00 target.Narrative Update • Jan 13
BEN: Performance Fee Dependence Will Limit Upside As Near-Term Prospects Remain Weak
Analysts have trimmed their price target on Franklin Resources to US$25 from US$26, citing fiscal Q4 earnings that were helped by performance fees but with limited upside expected in the near term. Analyst Commentary Recent Street research points to a cautious tone around Franklin Resources, even with fiscal Q4 earnings support from performance fees.Narrative Update • Dec 24
BEN Performance Fee Reliance Will Constrain Future Upside Despite Market Tailwinds
Analysts have nudged our fair value estimate for Franklin Resources up to $21.00 from $19.00, reflecting slightly lower perceived risk, improved revenue growth and margin outlooks, and Street research that, while mixed on near term upside, has modestly increased price targets on the back of better earnings power for traditional asset managers. Analyst Commentary Recent Street commentary on Franklin Resources underscores a cautious stance despite some upward revisions to earnings estimates and price targets across traditional asset managers.Analysis Article • Dec 21
Franklin Resources (NYSE:BEN) Has Announced That It Will Be Increasing Its Dividend To $0.33
Franklin Resources, Inc. ( NYSE:BEN ) has announced that it will be increasing its periodic dividend on the 9th of...Narrative Update • Dec 10
BEN: Performance Fee Boost And Market Conditions Will Shape Near-Term Earnings Outlook
Analysts have modestly reduced their price target on Franklin Resources, trimming it by $1 to $25 per share. They point to limited near term upside despite recent earnings being aided by performance fees and improved broader market conditions.Narrative Update • Nov 26
BEN: Q4 Earnings Stability And Market Trends Will Balance Q1 Outlook
Analysts have recently adjusted Franklin Resources' average price target modestly, reflecting both cautious optimism following Q4 earnings support from performance fees as well as rising EPS estimates tied to positive equity and bond market trends. Analyst Commentary Recent research notes reveal a mix of cautious optimism and lingering concerns regarding Franklin Resources as analysts digest the company's latest quarterly results and update market forecasts.Narrative Update • Nov 10
BEN: Strong Q3 Market Momentum Will Drive Earnings Upside
Analysts have slightly lowered their price target for Franklin Resources from $25.45 to $24.73 per share. This change reflects updated expectations for revenue growth, profit margins, and broader market performance.Narrative Update • Oct 03
Uzbekistan And Saudi Arabia Expansion Will Unlock Future Diversification
Analysts have raised their price target for Franklin Resources from $19 to $22, citing stronger than expected performance across global equity and bond markets that lifted the firm's earnings outlook. Analyst Commentary In response to Franklin Resources' improved performance outlook, analysts have identified both strengths and ongoing concerns that may affect the company's valuation and growth trajectory in the near term.Analysis Article • Aug 04
Franklin Resources, Inc. Just Missed EPS By 61%: Here's What Analysts Think Will Happen Next
Shareholders might have noticed that Franklin Resources, Inc. ( NYSE:BEN ) filed its third-quarter result this time...Seeking Alpha • Mar 28
Franklin Resources: Struggles Continue Amidst Intensifying Flows And Market Headwinds
Summary Franklin Resources faces challenges with asset outflows and expensive products, despite continued M&A efforts. Sales and notably earnings have declined, a trend set to last into 2025. The company's strategy of using M&A to offset organic outflows raises concerns, especially with ongoing share dilution and capital allocation issues. Despite a low valuation and high dividend yield, I remain cautious due to persistent organic weakness and declining performance. Read the full article on Seeking AlphaSeeking Alpha • Jan 13
Franklin Resources: Deep Value Or Justified Discount?
Summary Franklin Resources has continued to struggle with net outflows despite multiple acquisitions over the last five years. Acquired businesses have increased investment management fees materially, but expenses have grown at an even more rapid rate, leading to significant operating margin decline. Franklin Resources should be able to improve its operating performance, but I lack confidence that the company will deliver on this potential. Taking into account downside risks relating to Western Asset Management and continued acquisition-related distractions, I rate Franklin Resources as a Hold, whilst acknowledging that the stock looks cheap on valuation. Read the full article on Seeking AlphaSeeking Alpha • Dec 16
Staying In Franklin Resources For The Dividend
Summary Franklin Resources Inc. has underperformed, with a 3.7% loss versus a 14.25% S&P 500 gain. Despite record sales, profitability has fallen, and the dividend payout ratio may be unsustainable at 141% of net income, raising concerns. The stock isn’t cheap, but the dividend yield is attractive, offering an 83% higher income over a decade compared to Treasury Notes. I’ll stay invested for the dividend, assuming it grows at a 7% CAGR, and I'll continue to monitor the company’s financial health closely. Read the full article on Seeking AlphaCEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | US$678m |
| Dec 31 2025 | n/a | n/a | US$563m |
| Sep 30 2025 | US$17m | US$750k | US$472m |
| Jun 30 2025 | n/a | n/a | US$271m |
| Mar 31 2025 | n/a | n/a | US$358m |
| Dec 31 2024 | n/a | n/a | US$339m |
| Sep 30 2024 | US$17m | US$750k | US$432m |
| Jun 30 2024 | n/a | n/a | US$810m |
| Mar 31 2024 | n/a | n/a | US$861m |
| Dec 31 2023 | n/a | n/a | US$929m |
| Sep 30 2023 | US$16m | US$750k | US$845m |
| Jun 30 2023 | n/a | n/a | US$785m |
| Mar 31 2023 | n/a | n/a | US$812m |
| Dec 31 2022 | n/a | n/a | US$962m |
| Sep 30 2022 | US$16m | US$753k | US$1b |
| Jun 30 2022 | n/a | n/a | US$2b |
| Mar 31 2022 | n/a | n/a | US$2b |
| Dec 31 2021 | n/a | n/a | US$2b |
| Sep 30 2021 | US$10m | US$753k | US$2b |
| Jun 30 2021 | n/a | n/a | US$1b |
| Mar 31 2021 | n/a | n/a | US$1b |
| Dec 31 2020 | n/a | n/a | US$768m |
| Sep 30 2020 | US$9m | US$630k | US$784m |
| Jun 30 2020 | n/a | n/a | US$1b |
| Mar 31 2020 | n/a | n/a | US$971m |
| Dec 31 2019 | n/a | n/a | US$1b |
| Sep 30 2019 | US$8m | US$602k | US$1b |
Compensation vs Market: Jenny's total compensation ($USD16.84M) is about average for companies of similar size in the US market ($USD14.79M).
Compensation vs Earnings: Jenny's compensation has been consistent with company performance over the past year.
CEO
Jenny Johnson (62 yo)
6.3yrs
Tenure
US$16,844,816
Compensation
Ms. Jennifer M. Johnson, also known as Jenny, serves as Chief Executive Officer and Non-Independent Director of Franklin Resources, Inc. from October 15, 2025. She joined the Franklin Resources, Inc. in 19...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman of the Board & Non-Independent Director | 19.4yrs | US$3.36m | 1.13% $ 179.0m | |
| CEO & Non-Independent Director | 6.3yrs | US$16.84m | 1.19% $ 188.3m | |
| Co-President | 7.1yrs | US$9.84m | 0.063% $ 10.0m | |
| Co-President & Head of Public Market Investments | 5.3yrs | US$13.64m | 0.011% $ 1.7m | |
| Co-President & Chief Commercial Officer | less than a year | no data | no data | |
| President of India | no data | no data | no data | |
| Senior VP & Chief Accounting Officer | 2.3yrs | no data | 0.0026% $ 415.1k | |
| Head of Research & Director of Portfolio Management | no data | no data | no data | |
| Chief Administrative Officer & Head of Business Development | no data | no data | no data | |
| Head of Investor Relations | no data | no data | no data | |
| Executive VP | 4.1yrs | no data | 0.0098% $ 1.5m | |
| Head of CEEMEA & India | 9.3yrs | no data | no data |
5.8yrs
Average Tenure
58yo
Average Age
Experienced Management: BEN's management team is seasoned and experienced (5.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman of the Board & Non-Independent Director | 19.4yrs | US$3.36m | 1.13% $ 179.0m | |
| CEO & Non-Independent Director | 6.3yrs | US$16.84m | 1.19% $ 188.3m | |
| Independent Director | 15.3yrs | US$376.51k | 0.014% $ 2.2m | |
| Independent Lead Director | 11.3yrs | US$397.01k | 0.0067% $ 1.1m | |
| Vice Chairman & Non-Independent Director | 55.4yrs | no data | 20.05% $ 3.2b | |
| Trustee of the Trust | 19.4yrs | no data | no data | |
| Independent Director | 5.3yrs | US$319.00k | no data | |
| Independent Director | 11.3yrs | US$332.00k | 0.00046% $ 72.6k | |
| Independent Director | 6.3yrs | US$322.01k | 0.0091% $ 1.4m | |
| Independent Director | 5.3yrs | US$392.00k | no data | |
| Independent Director | 5.3yrs | US$357.01k | 0.0078% $ 1.2m | |
| Independent Director | 4.9yrs | US$352.00k | no data |
8.8yrs
Average Tenure
65yo
Average Age
Experienced Board: BEN's board of directors are considered experienced (8.8 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/04 21:55 |
| End of Day Share Price | 2026/06/04 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/09/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Franklin Resources, Inc. is covered by 28 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Roger Freeman | Barclays |
| Benjamin Budish | Barclays |
| Charles Hintz | Bernstein |