Brookfield Asset Management Ltd. $BAM Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. decreased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 34.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,504 shares of the financial services provider’s stock after selling 10,915 shares during the quarter. Baird Financial Group Inc.’s holdings in Brookfield Asset Management were worth $993,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BAM. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Brookfield Asset Management by 975.9% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,765,220 shares of the financial services provider’s stock worth $85,463,000 after acquiring an additional 1,601,155 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Brookfield Asset Management by 58.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider’s stock worth $163,354,000 after purchasing an additional 1,246,011 shares during the last quarter. AGF Management Ltd. increased its position in shares of Brookfield Asset Management by 60.5% in the 1st quarter. AGF Management Ltd. now owns 1,603,608 shares of the financial services provider’s stock worth $77,742,000 after purchasing an additional 604,395 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Brookfield Asset Management in the 1st quarter worth about $27,859,000. Finally, 1832 Asset Management L.P. increased its holdings in Brookfield Asset Management by 96.6% in the first quarter. 1832 Asset Management L.P. now owns 981,961 shares of the financial services provider’s stock valued at $47,576,000 after buying an additional 482,509 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BAM. National Bankshares set a $71.00 price objective on Brookfield Asset Management and gave the company an “outperform” rating in a report on Tuesday, July 29th. Jefferies Financial Group boosted their price objective on Brookfield Asset Management from $55.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, August 13th. Bank of America lowered Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price objective for the company. in a report on Thursday, September 4th. BMO Capital Markets boosted their price objective on Brookfield Asset Management from $53.00 to $56.00 and gave the company a “market perform” rating in a report on Thursday, August 7th. Finally, National Bank Financial began coverage on Brookfield Asset Management in a report on Tuesday, July 29th. They issued an “outperform” rating and a $71.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.52.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $56.90 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $59.82 and a two-hundred day moving average of $55.22. Brookfield Asset Management Ltd. has a 52 week low of $41.20 and a 52 week high of $64.10. The company has a market cap of $93.18 billion, a P/E ratio of 38.18, a PEG ratio of 2.13 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.29 billion. As a group, analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management’s payout ratio is 117.45%.

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.