Franklin Resources stock hits 52-week high but trails rivals
Updated
Updated · MarketWatch · May 6
Franklin Resources stock hits 52-week high but trails rivals
6 articles · Updated · MarketWatch · May 6
Shares rose 2.30% to $31.16 on Wednesday, topping Tuesday's $30.52 peak in a broad market rally led by gains in the S&P 500 and Dow.
The stock posted a second straight daily gain, but lagged BlackRock's 2.35% rise while outpacing Bank of New York Mellon and slightly beating Goldman Sachs' 2.01% advance.
Trading volume was 5.2 million shares, about 364,606 below its 50-day average of 5.5 million, suggesting the record move came on lighter-than-usual activity.
Despite a 52-week high, are weak margins and falling earnings Franklin Resources' real story?
Can Franklin Resources fund its AI ambitions without sacrificing its 46-year dividend streak?