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

Franklin Resources Inc. lowered its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 11.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 126,871 shares of the financial services provider’s stock after selling 16,444 shares during the period. Franklin Resources Inc.’s holdings in Brookfield Asset Management were worth $6,271,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Hara Capital LLC bought a new stake in shares of Brookfield Asset Management in the third quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC acquired a new position in Brookfield Asset Management during the 3rd quarter valued at $27,000. Richardson Financial Services Inc. raised its stake in Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 755 shares during the last quarter. Legacy Bridge LLC bought a new stake in Brookfield Asset Management in the 2nd quarter valued at $52,000. Finally, Continuum Advisory LLC grew its position in Brookfield Asset Management by 42.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 329 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Up 0.4 %

NYSE:BAM opened at $54.42 on Monday. The firm has a market cap of $24.11 billion, a PE ratio of 48.16, a price-to-earnings-growth ratio of 2.43 and a beta of 1.41. Brookfield Asset Management Ltd. has a 12 month low of $37.19 and a 12 month high of $59.58. The company’s 50-day moving average price is $55.11 and its two-hundred day moving average price is $46.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS 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 business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business earned $0.35 EPS. On average, research analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 payout ratio is presently 134.51%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Bank of America upped their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Scotiabank lifted their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. TD Securities boosted their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods raised their target price on Brookfield Asset Management from $49.00 to $57.00 and gave the stock an “underperform” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Brookfield Asset Management has an average rating of “Hold” and a consensus target price of $54.54.

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.