Focus Partners Wealth Trims Stock Position in Brookfield Asset Management Ltd. $BAM

Focus Partners Wealth cut its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,946 shares of the financial services provider’s stock after selling 1,946 shares during the quarter. Focus Partners Wealth’s holdings in Brookfield Asset Management were worth $3,340,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cerity Partners LLC grew its stake in shares of Brookfield Asset Management by 36.6% during the 1st quarter. Cerity Partners LLC now owns 29,482 shares of the financial services provider’s stock valued at $1,428,000 after acquiring an additional 7,901 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Brookfield Asset Management by 9.9% during the 1st quarter. Teacher Retirement System of Texas now owns 68,700 shares of the financial services provider’s stock valued at $3,329,000 after acquiring an additional 6,200 shares during the period. Vanguard Group Inc. grew its stake in shares of Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock valued at $832,833,000 after acquiring an additional 302,852 shares during the period. Capital A Wealth Management LLC bought a new position in shares of Brookfield Asset Management during the 4th quarter valued at approximately $412,000. Finally, Jump Financial LLC bought a new position in shares of Brookfield Asset Management during the 1st quarter valued at approximately $629,000. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $57.84 on Tuesday. The stock’s fifty day moving average is $59.88 and its 200 day moving average is $55.21. 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 $94.74 billion, a PE ratio of 38.82, a PEG ratio of 2.07 and a beta of 1.44. 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 results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.29 billion. On average, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a $0.4375 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 3.0%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 117.45%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BAM. TD Securities boosted their price objective on Brookfield Asset Management from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Scotiabank upped their price target on Brookfield Asset Management from $66.00 to $67.25 and gave the stock a “sector outperform” rating in a research note on Thursday, August 7th. CIBC upped their price target on Brookfield Asset Management from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Jefferies Financial Group upped their price target on 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, Piper Sandler dropped their price target on Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.52.

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.