Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.Franklin Resources ( BEN) pushed the Financial Services industry lower today making it today's featured Financial Services laggard. The industry as a whole was unchanged today. By the end of trading, Franklin Resources fell $0.78 (-1.6%) to $46.97 on light volume. Throughout the day, 1,617,662 shares of Franklin Resources exchanged hands as compared to its average daily volume of 3,221,100 shares. The stock ranged in price between $46.88-$47.81 after having opened the day at $47.81 as compared to the previous trading day's close of $47.75. Other companies within the Financial Services industry that declined today were: DFC Global ( DLLR), down 28.9%, Paulson Capital ( PLCC), down 10.6%, Atlanticus Holdings ( ATLC), down 6.2% and CompuCredit Corporation ( CCRT), down 6.2%.
Franklin Resources Inc. is a publicly owned asset management holding company. The firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It manages, through its subsidiary, separate client-focused equity, fixed income, and balanced portfolios. Franklin Resources has a market cap of $29.5 billion and is part of the financial sector. Shares are up 10.9% year to date as of the close of trading on Thursday. Currently there are 10 analysts that rate Franklin Resources a buy, no analysts rate it a sell, and 6 rate it a hold. TheStreet Ratings rates Franklin Resources as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, good cash flow from operations and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.