Beutel Goodman & Co Ltd. Has $125.83 Million Stake in Brookfield Asset Management Ltd. $BAM

Beutel Goodman & Co Ltd. reduced its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,278,022 shares of the financial services provider’s stock after selling 77,884 shares during the quarter. Beutel Goodman & Co Ltd. owned approximately 0.14% of Brookfield Asset Management worth $125,829,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in BAM. Caitong International Asset Management Co. Ltd boosted its stake in shares of Brookfield Asset Management by 1,270.6% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock valued at $26,000 after buying an additional 432 shares during the period. Manchester Capital Management LLC raised its holdings in shares of Brookfield Asset Management by 559.5% during the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 442 shares in the last quarter. Truvestments Capital LLC boosted its position in Brookfield Asset Management by 85.5% during the first quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 432 shares during 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 purchasing an additional 1,000 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in Brookfield Asset Management by 127.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 995 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 558 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 0.3%

Shares of BAM stock opened at $52.91 on Friday. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. The firm has a market cap of $86.66 billion, a PE ratio of 33.07, a price-to-earnings-growth ratio of 1.97 and a beta of 1.39. The stock has a 50 day moving average of $54.13 and a 200-day moving average of $56.89.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.34 billion. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. On average, equities analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, November 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 109.38%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BAM shares. Bank of America cut Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price target for the company. in a research note on Thursday, September 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $58.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Morgan Stanley set a $62.00 price target on Brookfield Asset Management in a research report on Monday, October 13th. Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Royal Bank Of Canada boosted their target price on Brookfield Asset Management from $74.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Brookfield Asset Management currently has an average rating of “Moderate Buy” and a consensus target price of $64.32.

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.