Brookfield Asset Management Ltd. $BAM Stake Cut by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,329,818 shares of the financial services provider’s stock after selling 376,627 shares during the quarter. Principal Financial Group Inc. owned approximately 0.45% of Brookfield Asset Management worth $417,363,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in shares of Brookfield Asset Management during the 1st quarter valued at about $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Brookfield Asset Management by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock valued at $12,648,000 after acquiring an additional 24,013 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Brookfield Asset Management by 2.1% during the second quarter. Janney Montgomery Scott LLC now owns 225,860 shares of the financial services provider’s stock valued at $12,486,000 after purchasing an additional 4,638 shares during the last quarter. Truist Financial Corp raised its position in shares of Brookfield Asset Management by 14.4% during the 2nd quarter. Truist Financial Corp now owns 13,053 shares of the financial services provider’s stock worth $722,000 after purchasing an additional 1,640 shares during the period. Finally, ASR Vermogensbeheer N.V. raised its position in shares of Brookfield Asset Management by 7.6% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 7,095 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 500 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Loop Capital set a $60.00 price objective on Brookfield Asset Management in a research note on Tuesday, January 6th. Scotiabank lowered their price target on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating for the company in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, December 22nd. Keefe, Bruyette & Woods reduced their target price on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a research note on Monday, November 10th. Finally, Royal Bank Of Canada set a $74.00 target price on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Brookfield Asset Management has an average rating of “Moderate Buy” and an average price target of $63.38.

Brookfield Asset Management Stock Performance

BAM opened at $49.70 on Friday. The business has a 50 day moving average price of $52.67 and a two-hundred day moving average price of $55.97. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $81.41 billion, a price-to-earnings ratio of 31.06, a price-to-earnings-growth ratio of 2.15 and a beta of 1.39. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10.

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

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th were given a dividend of $0.4375 per share. The ex-dividend date was 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 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.