secwatch.observer — SEC 8-K summary
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Issuer:     FRANKLIN RESOURCES INC (BEN)
CIK:        0000038777
Form:       8-K
Filed at:   2024-01-29T23:59:59+00:00
Accession:  0000038777-24-000005
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Franklin Resources reports Q1 adj. EPS $0.65, revenue $1.99B; closes Putnam acquisition
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- GAAP net income $251.3M ($0.50 EPS) vs $165.6M YoY; adj. net income $328.5M ($0.65 adj. EPS) vs $262.4M YoY.
- Total AUM $1,455.5B, up 6% QoQ; long-term net outflows $5.0B, but cash management net inflows $4.7B.
- Closed acquisition of Putnam Investments on Jan 1, 2024; adds $148B AUM, total AUM ~$1.6T.
- Alternatives saw inflows of $3.8B combined from BSP, Clarion, Lexington; Lexington closed $22.7B secondary fund.
- Dividend increased to $0.31/share from $0.30; repurchased 2.4M shares for $58.8M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/38777/000003877724000005/0000038777-24-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/38777/000003877724000005/ben-20240129.htm
  HTML page:      https://secwatch.observer/filing/0000038777-24-000005

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