Catalyst Funds Management Pty Ltd Sells 33,700 Shares of Brookfield Asset Management Ltd. $BAM

Catalyst Funds Management Pty Ltd lessened its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 42.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,644 shares of the financial services provider’s stock after selling 33,700 shares during the period. Brookfield Asset Management makes up about 0.7% of Catalyst Funds Management Pty Ltd’s investment portfolio, making the stock its 27th biggest holding. Catalyst Funds Management Pty Ltd’s holdings in Brookfield Asset Management were worth $2,523,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its position in shares of Brookfield Asset Management by 1,270.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 432 shares in the last quarter. Truvestments Capital LLC raised its stake in Brookfield Asset Management by 85.5% during the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock worth $45,000 after buying an additional 432 shares during the period. First Horizon Advisors Inc. lifted its holdings in Brookfield Asset Management by 127.7% during the second quarter. First Horizon Advisors Inc. now owns 995 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 558 shares in the last quarter. DHJJ Financial Advisors Ltd. grew its stake in Brookfield Asset Management by 100,000.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 1,000 shares during the period. Finally, Trust Co. of Vermont increased its holdings in shares of Brookfield Asset Management by 90.4% in the second quarter. Trust Co. of Vermont now owns 1,070 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 508 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BAM shares. National Bank Financial started coverage on Brookfield Asset Management in a report on Tuesday, July 29th. They set an “outperform” rating and a $71.00 price objective on the stock. Piper Sandler cut their price target on shares of Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $58.00 price target on shares of Brookfield Asset Management in a report on Thursday, August 7th. CIBC increased their price objective on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a research report on Monday. Two investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.32.

Brookfield Asset Management Price Performance

Shares of BAM opened at $50.55 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10. The stock has a market capitalization of $82.80 billion, a P/E ratio of 33.93, a P/E/G ratio of 2.04 and a beta of 1.38. The company has a 50 day moving average of $55.70 and a 200-day moving average of $57.30.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be issued a $0.4375 dividend. The ex-dividend date is Friday, November 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.5%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 109.38%.

Brookfield Asset Management 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.