HB Wealth Management LLC Sells 1,072 Shares of Brookfield Asset Management Ltd. $BAM

HB Wealth Management LLC reduced its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 13.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,931 shares of the financial services provider’s stock after selling 1,072 shares during the period. HB Wealth Management LLC’s holdings in Brookfield Asset Management were worth $383,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BAM. Kirr Marbach & Co. LLC IN lifted its holdings in shares of Brookfield Asset Management by 0.6% during the first quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider’s stock valued at $1,715,000 after purchasing an additional 203 shares during the last quarter. Lincoln Capital LLC increased its position in Brookfield Asset Management by 0.9% during the 1st quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider’s stock valued at $1,145,000 after buying an additional 210 shares in the last quarter. Focus Financial Network Inc. raised its stake in Brookfield Asset Management by 5.2% during the first quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider’s stock valued at $215,000 after buying an additional 218 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Brookfield Asset Management by 17.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,015 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 299 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Brookfield Asset Management by 3.2% in the first quarter. Advisors Asset Management Inc. now owns 10,171 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 314 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 1.8%

Shares of NYSE:BAM opened at $57.83 on Monday. The stock’s 50-day simple moving average is $59.72 and its two-hundred day simple moving average is $56.12. The stock has a market capitalization of $94.70 billion, a price-to-earnings ratio of 38.81, a PEG ratio of 2.11 and a beta of 1.39. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10. 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 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business 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%. Analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, August 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 117.45%.

Analysts Set New Price Targets

Several research firms have recently issued reports on BAM. TD Securities lifted their price target on Brookfield Asset Management from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. National Bankshares set a $71.00 target price on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a report on Tuesday, July 29th. BMO Capital Markets upped their target price on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the stock a “market perform” rating in a research note on Thursday, August 7th. CIBC increased their price target on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Brookfield Asset Management in a report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Moderate Buy” and an average price target of $63.52.

About Brookfield Asset Management

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.