NEW YORK ( TheStreet) -- Franklin Resources (NYSE: BEN) hit a new 52-week high Wednesday as it traded at $130.97 compared with its previous 52-Week high of $130.34. Franklin is changing hands at $130.14 with 29,634 shares traded as of 9:46 a.m. ET. Average volume has been 1.1 million shares over the past 30 days. Franklin has a market cap of $28.8 billion and is part of the financial sector and financial services industry. Shares are up 16.9% year to date as of the close of trading on Tuesday. Franklin Resources Inc. is a publicly owned investment manager. The firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It primarily manages families of equity, fixed income, and balanced mutual funds for its clients. The company has a P/E ratio of 18.4, equal to the average financial services industry P/E ratio and below the S&P 500 P/E ratio of 23.4. TheStreet Ratings rates Franklin as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Franklin Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.