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BEN · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Franklin Templeton, Inc. (BEN) stock moving?
Franklin Templeton reported preliminary fiscal Q4 results on Nov 6 that beat consensus sharply, with adjusted EPS of $0.94 against $0.77 expected and sales of $2.435B against $1.861B, and the 10-K on Nov 9 confirmed FY2026 revenue of $9.42B and net income of $1.08B. Preliminary October firmwide AUM of $1.81T adds a supportive operating backdrop. Market data confirms the reaction: BEN closed at $36.29 on Nov 10, up about 15% from $31.52 on Oct 22, with heavy volume on Nov 5 (7.8M shares), Nov 6 (7.2M) and Nov 9 (6.3M) versus roughly 2-4M earlier in the period. Analyst targets moved up to a $36-$44 range (Barclays $36, KBW $37 after a small trim from $38, TD Cowen $44), and the stock now trades near the lower end of that range, which limits near-term upside on the targets alone. The trend is positive, but the rally has already priced in much of the earnings beat.
News behind the analysis
- Franklin Resources Q4 Adj. EPS $0.94 Beats $0.77 Estimate, Sales $2.435B Beat $1.861B EstimateFourth-quarter adjusted EPS of $0.94 and sales of $2.435B both topped consensus estimates of $0.77 and $1.861B.
- Franklin Templeton Reports Preliminary Q4 Financial ResultsPreliminary net profit rose sharply in the fourth quarter on higher revenue and lower expenses, per the 8-K filed Nov 6.
- Franklin Templeton Reports October Preliminary Assets Under Management Of $1.81TPreliminary firmwide assets under management reached $1.81 trillion at the end of October.
- Franklin Templeton FY 2026 Revenue $9.42B, EPS $1.97: 10-K SummaryThe 10-K for the fiscal year ended Sep 30, 2026 reports $9.42B in revenue and $1.08B in net income.
- Franklin Templeton Analysts Boost Their Forecasts After Upbeat Q4 ResultsAnalysts lifted price targets to a range of $36 to $44 after Q4 results, and shares rose 6.6%.
- TD Cowen Maintains Buy on Franklin Templeton, Raises Price Target to $44TD Cowen kept its Buy rating and raised its price target to $44.
- Keefe, Bruyette & Woods Reiterates Market Perform on Franklin Templeton, Raises Price Target to $38Keefe, Bruyette & Woods kept its Market Perform rating and raised its price target to $38.
- Barclays Maintains Equal-Weight on Franklin Templeton, Raises Price Target to $36Barclays kept its Equal-Weight rating and raised its price target to $36.
- Keefe Bruyette & Woods Adjusts Price Target on Franklin TempletonKeefe Bruyette & Woods revised its price target to $37 from $38, a small trim below its prior level.
- Franklin Templeton Participates in Tokenized Money Market Fund PilotFranklin Templeton joined a pilot with Uber, HSBC and other partners on tokenized money market fund shares for corporate treasury management.
About Franklin Templeton, Inc.
Franklin Templeton, Inc. (formerly Franklin Resources, renamed in August 2026) is a global investment manager based in San Mateo, California, with roughly $1.8 trillion in client assets under management. It operates a multi-brand platform including Franklin, Templeton, ClearBridge, Western Asset, Brandywine, Putnam, and alternatives firms like Lexington Partners, Clarion Partners, and Benefit Street Partners.
How it makes money
Most revenue comes from investment management fees charged as a percentage of assets in its mutual funds, ETFs, separately managed accounts and alternative funds, spread across equity, fixed income, alternatives, multi-asset and cash strategies. It also earns sales and distribution fees, shareholder servicing fees and performance fees (notably from alternatives), which can make results lumpier.
What usually moves BEN
- Stock and bond market levels affecting AUM
- Net client inflows or outflows, especially at Western Asset
- Growth in higher-fee alternative assets and performance fees
- Fee pressure from shift to low-cost passive funds
- Interest rate moves affecting fixed income demand