Brookfield Asset Management Ltd. $BAM Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 15.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,275 shares of the financial services provider’s stock after selling 24,787 shares during the quarter. Franklin Resources Inc.’s holdings in Brookfield Asset Management were worth $7,325,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its position in Brookfield Asset Management by 1,270.6% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 432 shares during the last quarter. Truvestments Capital LLC raised its holdings in shares of Brookfield Asset Management by 85.5% in the first quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock valued at $45,000 after buying an additional 432 shares during the last quarter. DHJJ Financial Advisors Ltd. boosted its stake in shares of Brookfield Asset Management by 100,000.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider’s stock worth $55,000 after buying an additional 1,000 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of Brookfield Asset Management by 127.7% during the second quarter. First Horizon Advisors Inc. now owns 995 shares of the financial services provider’s stock worth $55,000 after buying an additional 558 shares during the last quarter. Finally, Trust Co. of Vermont grew its holdings in shares of Brookfield Asset Management by 90.4% during the second quarter. Trust Co. of Vermont now owns 1,070 shares of the financial services provider’s stock worth $59,000 after buying an additional 508 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BAM has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $58.00 price objective on shares of Brookfield Asset Management in a research report on Thursday, August 7th. Scotiabank lowered their price objective on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating on the stock in a research report on Monday, November 10th. Royal Bank Of Canada boosted their price objective on shares of Brookfield Asset Management from $74.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Jefferies Financial Group raised their target price on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, August 13th. Finally, Bank of America downgraded shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 target price on the stock. in a report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and an average price target of $64.32.

Brookfield Asset Management Stock Up 1.2%

Brookfield Asset Management stock opened at $52.69 on Monday. Brookfield Asset Management Ltd. has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The firm has a market capitalization of $86.29 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 2.04 and a beta of 1.38. The stock’s fifty day moving average is $54.72 and its two-hundred day moving average is $57.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.34 billion. Analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is 109.38%.

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.