Franklin Resources Inc. Purchases 19,860 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Franklin Resources Inc. raised its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 15.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,731 shares of the financial services provider's stock after purchasing an additional 19,860 shares during the quarter. Franklin Resources Inc.'s holdings in Brookfield Asset Management were worth $7,948,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BAM. Tandem Capital Management Corp ADV grew its stake in shares of Brookfield Asset Management by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider's stock valued at $2,119,000 after acquiring an additional 175 shares in the last quarter. Gold Investment Management Ltd. grew its stake in Brookfield Asset Management by 0.5% during the fourth quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider's stock worth $2,271,000 after buying an additional 219 shares in the last quarter. Procyon Advisors LLC increased its holdings in Brookfield Asset Management by 2.7% in the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider's stock valued at $505,000 after buying an additional 249 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Brookfield Asset Management by 35.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider's stock valued at $66,000 after buying an additional 319 shares in the last quarter. Finally, Continuum Advisory LLC boosted its position in shares of Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider's stock worth $52,000 after acquiring an additional 329 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

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Brookfield Asset Management Trading Up 2.1 %

Brookfield Asset Management stock traded up $0.99 during trading on Monday, hitting $48.30. 938,414 shares of the company were exchanged, compared to its average volume of 1,444,321. The company has a market capitalization of $79.08 billion, a P/E ratio of 36.59, a PEG ratio of 1.92 and a beta of 1.63. The business's 50 day moving average is $51.89 and its 200 day moving average is $53.62. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Equities analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.62%. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date was Friday, February 28th. Brookfield Asset Management's payout ratio is presently 132.58%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BAM. Bank of America raised Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price objective on the stock in a research note on Thursday. Jefferies Financial Group cut their price objective on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. CIBC boosted their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Wells Fargo & Company reduced their price objective on shares of Brookfield Asset Management from $50.00 to $48.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Hsbc Global Res raised Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Brookfield Asset Management has an average rating of "Hold" and a consensus price target of $57.15.

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.