Franklin Resources (NYSE:BEN) Registers Top Company AUM Level for Quarter

Franklin Resources (NYSE:BEN) reported their AUM for December, and the performance of the company came in at its highest quarterly level in its history.

Ticonderoga said, "BEN Reported December AUM. AUM of $671 billion was $16 billion better than our $655 billion estimate. This is the highest quarter-end AUM level in company history. Global bond flows were robust, while equity flows looked positive for the month. For the month, total fixed income AUM increased 1.3% despite a 4.5% decline in tax-free AUM driven by strength in global bond products. Total equity AUM was $296 billion, up 7.3% for the month, driven by a 7.5% increase in international equities...We are raising our calendar 2011 EPS estimates to $8.30 from $8.19 reflective of the 2.4% AUM beat versus our expectations."

Ticonderoga reiterates a "Buy" on Franklin Resources, which was trading at $115.61, $2.68, or 2.37 percent, as of 1:46 PM EST. Ticonderoga has a price target of $135 on them.