18 Best 52-Week Low Stocks to Buy Now According to Short Sellers

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

52 Week Range: $20.33 – $20.72

Current Share Price: $20.34

Number of Hedge Fund Holders: 27

Short interest rate: 4.17%

Franklin Resources, Inc. (NYSE:BEN) is one of the best 52-week low stocks to buy now, according to short sellers, for diversifying an investment portfolio into the financial service sector. While operating as an asset management holding company, it offers services to individual institution’s pension plans.

Franklin Resources, Inc. (NYSE:BEN) has been under pressure, trading close to its 52-week lows. The underperformance has been attributed to the Securities and Exchange Commission launching a federal investigation of its co-chief Investment Officer (CIO) of its Western Asset Management unit, Ken Leech. Consequently, the company has announced Michael Buchanan’s promotion to the Chief Investment Officer role.

During their latest earnings discussion, Franklin Resources, Inc. (NYSE:BEN) announced an adjusted operating profit of $424.9 million, indicating a 1.3% rise compared to the last three months. It also delivered a 15% growth in assets managed over the past year, concluding the quarter with a total of $1.65 trillion.

In collaboration with other financial entities, the firm introduced the initial U.S. exchange-traded funds linked to ether, incorporating digital assets into the wider financial landscape. The firm’s quarterly dividend payout remained unchanged at $0.31 per share, marking a 3.3% increase from the same period last year. These developments represent recent progress for both Western Asset Management and Franklin Resources.

Franklin Resources, Inc. (NYSE:BEN) is currently valued at a P/E ratio of 12.88, significantly higher than an average P/E of 7 for the financial service industry. On the other hand, the company rewards investors with a 5.92% dividend yield. The number of shares outstanding shortstands at 4.17%.

During June 2024, 27 out of the 912 hedge funds profiled by Insider Monkey were the firm’s shareholders. Franklin Resources, Inc. (NYSE:BEN) ‘s biggest hedge fund investor is AQR Capital Management, as it owns$54.66 million worth of shares.