10 Oversold Blue Chip Stocks to Buy Now

7) Franklin Resources, Inc. (NYSE:BEN)

Market cap (As of 25 October): $10.6 billion

Forward P/E (As of 25 October): 7.87x

% Decline on a YTD Basis: ~30%

Number of Hedge Fund Holders: 27

Franklin Resources, Inc. (NYSE:BEN) is a publicly-owned asset management holding company.

Despite the challenges, Franklin Resources, Inc. (NYSE:BEN) continues to maintain a strong global presence in the investment management industry. This international footprint is expected to offer opportunities for the company to diversify its asset base and tap into growth markets. Through leveraging its established brand and distribution networks, Franklin Resources, Inc. (NYSE:BEN) should be able to offset outflows in certain markets with inflows from others. It can focus on regions or asset classes where it has a competitive advantage or where market conditions continue to be favorable.

During the quarter that ended June 30, 2024, the company saw positive net flows in multi-asset and alternative strategies, with a strong emphasis on retail SMAs, Canvas, and ETF offerings. Wall Street analysts remain optimistic about Franklin Resources, Inc. (NYSE:BEN)’s partnerships with Microsoft and Envestnet. These alliances should enhance technology capabilities.

It plans to grow its Wealth Management business with the help of organic investments and acquisitions, focusing on innovation and technology. It will continue to invest in the business to aid its strategic priorities in Asset Management and Wealth Management. Franklin Resources, Inc. (NYSE:BEN) is focused on product development and expansion, with ongoing product development with Great West and the expectation to broaden its allocations beyond fixed income. The expansion of its partnership with Envestnet, Inc. is seen as a growth catalyst, furthering its position as a top SMA provider.

Franklin Resources, Inc. (NYSE:BEN) highlighted that advisors who are using Envestnet will be able to access Canvas’ differentiated digital solutions and operational assurance in a bid to strengthen client relationships by personalizing investment management. As per Wall Street, the shares of the company have an average price target of $21.44.