50% off Premium Yearly
Franklin ResourcesBENTOP PICKMar 23, 2001Stock price when the opinion was issued
As of Jun 18, 2026. Market Open.
Asset manager. $800 billion in AUM. Wanted something that wasn’t a traditional bank but had leverage to rising rates as well as equity markets potentially getting better over time. Good valuation. Mispriced as there is a concept that as the Fed tapered there was going to be a great rotation out of bonds and into equities and that this was essentially a bond shop but 55% of their business is equities. Trading at about 14.5X earnings.