Truist Financial Corp Sells 3,764 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Truist Financial Corp lowered its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 73,595 shares of the financial services provider’s stock after selling 3,764 shares during the period. Truist Financial Corp’s holdings in Brookfield Asset Management were worth $2,956,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Asset Management One Co. Ltd. lifted its holdings in shares of Brookfield Asset Management by 127.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 62,914 shares of the financial services provider’s stock valued at $2,537,000 after purchasing an additional 35,300 shares during the last quarter. America First Investment Advisors LLC raised its position in shares of Brookfield Asset Management by 107.3% in the 3rd quarter. America First Investment Advisors LLC now owns 338,692 shares of the financial services provider’s stock valued at $11,292,000 after purchasing an additional 175,316 shares during the last quarter. Vanguard Group Inc. grew its position in Brookfield Asset Management by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 10,402,885 shares of the financial services provider’s stock worth $346,832,000 after purchasing an additional 120,714 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Brookfield Asset Management by 55.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 364,179 shares of the financial services provider’s stock valued at $12,145,000 after purchasing an additional 129,907 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Brookfield Asset Management by 0.7% in the third quarter. Invesco Ltd. now owns 1,594,743 shares of the financial services provider’s stock worth $53,169,000 after buying an additional 11,416 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $39.78 on Wednesday. Brookfield Asset Management Ltd. has a 12 month low of $28.35 and a 12 month high of $43.00. The stock has a market capitalization of $16.44 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 1.51 and a beta of 1.72. The business has a 50 day simple moving average of $40.61 and a 200-day simple moving average of $38.20.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. The company had revenue of $1.13 billion during the quarter. During the same period in the previous year, the firm posted $0.31 EPS. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BAM shares. BMO Capital Markets upped their target price on Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, February 8th. Royal Bank of Canada lifted their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. HSBC cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Scotiabank lifted their price objective on Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 8th. Finally, CIBC raised their target price on Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Brookfield Asset Management 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.