Brookfield Asset Management Ltd. $BAM Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 6.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,806,972 shares of the financial services provider’s stock after selling 327,586 shares during the period. Massachusetts Financial Services Co. MA owned about 0.29% of Brookfield Asset Management worth $273,709,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BAM. Norges Bank acquired a new stake in Brookfield Asset Management during the 2nd quarter valued at $294,730,000. State Street Corp raised its holdings in shares of Brookfield Asset Management by 11,172.2% in the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock worth $194,845,000 after acquiring an additional 3,493,431 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Brookfield Asset Management by 62.4% in the second quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider’s stock valued at $208,571,000 after acquiring an additional 1,443,441 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Brookfield Asset Management by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 4,218,119 shares of the financial services provider’s stock valued at $232,402,000 after acquiring an additional 857,994 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Brookfield Asset Management by 36.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,406,520 shares of the financial services provider’s stock valued at $133,281,000 after acquiring an additional 641,300 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BAM has been the subject of several analyst reports. Loop Capital set a $60.00 target price on shares of Brookfield Asset Management in a research note on Tuesday, January 6th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. UBS Group set a $58.00 price objective on shares of Brookfield Asset Management and gave the company a “neutral” rating in a research note on Tuesday, January 13th. Keefe, Bruyette & Woods decreased their target price on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating on the stock in a research report on Monday, November 10th. Finally, National Bankshares cut 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. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.38.

Brookfield Asset Management Price Performance

BAM opened at $52.77 on Tuesday. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. The company’s 50 day simple moving average is $52.74 and its 200 day simple moving average is $56.30. The stock has a market capitalization of $86.43 billion, a PE ratio of 32.98, a P/E/G ratio of 2.26 and a beta of 1.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly 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 firm had revenue of $1.27 billion during the quarter, compared to analyst estimates 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, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th were issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, November 28th. Brookfield Asset Management’s dividend payout ratio is presently 109.38%.

Brookfield Asset Management Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.