Advisory Services Network LLC Lowers Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Advisory Services Network LLC lowered its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAMFree Report) (TSE:BAM.A) by 27.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,374 shares of the financial services provider’s stock after selling 2,391 shares during the period. Advisory Services Network LLC’s holdings in Brookfield Asset Management were worth $256,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC boosted its holdings in Brookfield Asset Management by 10.2% in the third quarter. FMR LLC now owns 14,217,008 shares of the financial services provider’s stock valued at $473,859,000 after acquiring an additional 1,313,734 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 period. Beutel Goodman & Co Ltd. increased its position in Brookfield Asset Management by 114.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock worth $279,387,000 after purchasing an additional 3,695,774 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Brookfield Asset Management by 5.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,885,165 shares of the financial services provider’s stock valued at $229,551,000 after buying an additional 365,237 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Brookfield Asset Management by 44.6% during the fourth quarter. Mackenzie Financial Corp now owns 6,341,977 shares of the financial services provider’s stock valued at $254,842,000 after buying an additional 1,955,842 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of Brookfield Asset Management in a research report on Wednesday, May 15th. They issued a “neutral” rating and a $41.00 price objective for the company. Scotiabank cut their price objective on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a research report on Thursday, May 9th. Royal Bank of Canada increased their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Finally, BMO Capital Markets boosted their price target on Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management has an average rating of “Moderate Buy” and an average price target of $42.14.

View Our Latest Research Report on Brookfield Asset Management

Brookfield Asset Management Stock Down 0.5 %

BAM stock opened at $39.09 on Wednesday. Brookfield Asset Management Ltd. has a 52-week low of $28.35 and a 52-week high of $43.00. The stock’s 50 day moving average is $39.88 and its two-hundred day moving average is $39.45. The company has a market capitalization of $17.28 billion, a PE ratio of 36.19, a P/E/G ratio of 1.77 and a beta of 1.67.

Brookfield Asset Management (NYSE:BAMGet Free Report) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The company had revenue of $884.00 million for the quarter. As a group, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, May 31st. This represents a $1.52 annualized dividend and a yield of 3.89%. Brookfield Asset Management’s dividend payout ratio is presently 140.74%.

Brookfield Asset Management Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Brookfield Asset Management (NYSE:BAM)

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