Franklin Resources Inc. Lowers Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Franklin Resources Inc. reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 11.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BAM. Geode Capital Management LLC increased its stake in Brookfield Asset Management by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider's stock valued at $77,293,000 after purchasing an additional 168,170 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Brookfield Asset Management by 2,857.1% during the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider's stock valued at $489,000 after acquiring an additional 10,000 shares in the last quarter. Intact Investment Management Inc. purchased a new position in Brookfield Asset Management in the 2nd quarter worth approximately $4,825,000. Charles Schwab Investment Management Inc. lifted its position in Brookfield Asset Management by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider's stock valued at $39,516,000 after acquiring an additional 45,670 shares in the last quarter. Finally, LGT Capital Partners LTD. boosted its stake in Brookfield Asset Management by 11.5% during the 3rd quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider's stock valued at $25,273,000 after purchasing an additional 55,000 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock traded up $0.34 during trading on Monday, hitting $54.76. The stock had a trading volume of 738,970 shares, compared to its average volume of 1,229,969. The stock has a market cap of $24.26 billion, a PE ratio of 48.46, a PEG 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 firm's fifty day simple moving average is $55.11 and its 200-day simple moving average is $46.43.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly 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 for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business posted $0.35 earnings per share. Analysts expect that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business 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. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.78%. Brookfield Asset Management's payout ratio is 134.51%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BAM. UBS Group started coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a "buy" rating for the company. The Goldman Sachs Group upped their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. StockNews.com upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Finally, Bank of America upped their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of "Hold" and an average target price of $54.54.

About Brookfield Asset Management

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.