Franklin Resources Inc. Has $6.27 Million Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Franklin Resources Inc. trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 11.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,871 shares of the financial services provider’s stock after selling 16,444 shares during the quarter. Franklin Resources Inc.’s holdings in Brookfield Asset Management were worth $6,271,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Public Sector Pension Investment Board lifted its position in shares of Brookfield Asset Management by 0.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock valued at $2,201,000 after acquiring an additional 188 shares in the last quarter. Pathstone Holdings LLC raised its stake in Brookfield Asset Management by 1.0% during the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after purchasing an additional 278 shares during the period. Foundations Investment Advisors LLC lifted its holdings in shares of Brookfield Asset Management by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 315 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after buying an additional 329 shares during the period. Finally, Procyon Advisors LLC grew its holdings in shares of Brookfield Asset Management by 4.2% during the third quarter. Procyon Advisors LLC now owns 9,063 shares of the financial services provider’s stock valued at $429,000 after buying an additional 366 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BAM shares. Wells Fargo & Company increased their price objective on Brookfield Asset Management from $51.00 to $56.00 and gave the stock an “underweight” rating in a research note on Thursday, December 12th. Scotiabank boosted their price objective on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Bank of America upped their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. UBS Group began coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating for the company. Finally, BMO Capital Markets upped their price target on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $54.54.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $54.42 on Monday. The stock has a market capitalization of $24.11 billion, a P/E ratio of 48.16, a P/E/G ratio of 2.43 and a beta of 1.41. The business has a 50-day moving average of $55.11 and a two-hundred day moving average of $46.38. Brookfield Asset Management Ltd. has a fifty-two week low of $37.19 and a fifty-two week high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned $0.35 EPS. As a group, research analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.