Mirae Asset Global Investments Co. Ltd. Sells 2,690 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Mirae Asset Global Investments Co. Ltd. decreased its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 28.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,700 shares of the financial services provider’s stock after selling 2,690 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Brookfield Asset Management were worth $325,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BAM. ST Germain D J Co. Inc. bought a new stake in Brookfield Asset Management during the 1st quarter worth approximately $26,000. Truvestments Capital LLC increased its stake in shares of Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 419 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in shares of Brookfield Asset Management during the 4th quarter valued at $32,000. NewEdge Advisors LLC lifted its stake in shares of Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock valued at $47,000 after buying an additional 325 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Brookfield Asset Management during the 4th quarter valued at $54,000. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $57.12 on Monday. The stock’s 50-day moving average is $56.00 and its two-hundred day moving average is $54.12. The firm has a market cap of $93.52 billion, a price-to-earnings ratio of 40.51, a PEG ratio of 2.13 and a beta of 1.43. Brookfield Asset Management Ltd. has a 1 year low of $37.80 and a 1 year high of $62.61. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.31 and a current ratio of 1.31.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were given a dividend of $0.4375 per share. The ex-dividend date was Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.06%. Brookfield Asset Management’s payout ratio is 124.11%.

Analyst Ratings Changes

A number of equities research analysts have commented on BAM shares. JPMorgan Chase & Co. raised their price target on Brookfield Asset Management from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Jefferies Financial Group decreased their target price on Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. Piper Sandler initiated coverage on Brookfield Asset Management in a report on Monday, June 30th. They issued a “neutral” rating and a $60.00 price target on the stock. Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Tuesday, April 15th. Finally, TD Securities boosted their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

Brookfield Asset Management Company 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.