Brookfield Asset Management Ltd. $BAM Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,088,531 shares of the financial services provider’s stock after selling 12,529 shares during the period. Corient Private Wealth LLC owned 0.07% of Brookfield Asset Management worth $60,174,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its stake 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 buying an additional 432 shares during the period. Manchester Capital Management LLC raised its stake in Brookfield Asset Management by 559.5% during the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 442 shares during the last quarter. Sagard Holdings Management Inc. acquired a new stake in Brookfield Asset Management during the 2nd quarter worth approximately $39,000. Truvestments Capital LLC grew its stake in shares of Brookfield Asset Management by 85.5% in the 1st 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. Finally, First Horizon Advisors Inc. increased its holdings in shares of Brookfield Asset Management by 127.7% in the second quarter. First Horizon Advisors Inc. now owns 995 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 558 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BAM. National Bankshares decreased their price target on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a report on Monday, October 27th. UBS Group set a $59.00 price objective on shares of Brookfield Asset Management in a research report on Thursday. Royal Bank Of Canada set a $74.00 target price on shares of Brookfield Asset Management and gave the company an “outperform” rating in a report on Monday. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Brookfield Asset Management in a research report on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.86.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $53.22 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $53.66 and its 200 day moving average price is $56.72. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. The stock has a market cap of $87.17 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 2.27 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company 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 58.25% and a return on equity of 33.77%. As a group, research analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, November 28th. Brookfield Asset Management’s dividend payout ratio is 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.