Focus Financial Network Inc. Sells 200 Shares of Brookfield Asset Management Ltd. $BAM

Focus Financial Network Inc. cut its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,242 shares of the financial services provider’s stock after selling 200 shares during the period. Focus Financial Network Inc.’s holdings in Brookfield Asset Management were worth $234,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BAM. BNP Paribas Financial Markets bought a new position in Brookfield Asset Management in the 4th quarter worth approximately $183,000. Squarepoint Ops LLC bought a new position in Brookfield Asset Management in the 4th quarter worth approximately $589,000. Public Employees Retirement System of Ohio boosted its holdings in Brookfield Asset Management by 26.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 43,634 shares of the financial services provider’s stock worth $2,366,000 after buying an additional 9,113 shares during the period. Ascent Group LLC boosted its holdings in Brookfield Asset Management by 6.5% in the 4th quarter. Ascent Group LLC now owns 10,818 shares of the financial services provider’s stock worth $586,000 after buying an additional 662 shares during the period. Finally, Capital A Wealth Management LLC bought a new position in Brookfield Asset Management in the 4th quarter worth approximately $412,000. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $60.08 on Monday. The firm’s fifty day moving average price is $60.14 and its 200-day moving average price is $55.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $98.40 billion, a P/E ratio of 40.32, a price-to-earnings-growth ratio of 2.19 and a beta of 1.44. Brookfield Asset Management Ltd. has a fifty-two week low of $41.78 and a fifty-two week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data 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). The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. On average, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, August 29th. This represents a $1.75 annualized dividend and a dividend yield of 2.9%. Brookfield Asset Management’s dividend payout ratio (DPR) is 117.45%.

Wall Street Analyst Weigh In

Several research analysts recently commented on BAM shares. Piper Sandler cut their price objective on shares of Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. National Bank Financial began coverage on shares of Brookfield Asset Management in a research note on Tuesday, July 29th. They issued an “outperform” rating and a $71.00 target price on the stock. National Bankshares set a $71.00 target price on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. Jefferies Financial Group increased their target price on shares of 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, TD Securities increased their target price on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.