Envestnet Asset Management Inc. Sells 21,778 Shares of Brookfield Asset Management Ltd. $BAM

Envestnet Asset Management Inc. decreased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 408,303 shares of the financial services provider’s stock after selling 21,778 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Brookfield Asset Management were worth $23,248,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. New York State Common Retirement Fund raised its position in shares of Brookfield Asset Management by 18.5% during the 3rd quarter. New York State Common Retirement Fund now owns 465,600 shares of the financial services provider’s stock valued at $26,511,000 after buying an additional 72,600 shares in the last quarter. Intact Investment Management Inc. grew its position in Brookfield Asset Management by 127.5% in the third quarter. Intact Investment Management Inc. now owns 590,560 shares of the financial services provider’s stock worth $33,612,000 after acquiring an additional 330,970 shares in the last quarter. Nicola Wealth Management LTD. grew its position in Brookfield Asset Management by 115.4% in the third quarter. Nicola Wealth Management LTD. now owns 216,558 shares of the financial services provider’s stock worth $12,325,000 after acquiring an additional 116,000 shares in the last quarter. Legal & General Group Plc increased its stake in Brookfield Asset Management by 144.5% in the second quarter. Legal & General Group Plc now owns 80,632 shares of the financial services provider’s stock valued at $4,456,000 after acquiring an additional 47,659 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Brookfield Asset Management during the third quarter valued at about $2,754,000. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Keefe, Bruyette & Woods cut their target price on 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. The Goldman Sachs Group reduced their price target on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. Finally, National Bank Financial decreased their price target on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management has an average rating of “Hold” and a consensus target price of $63.94.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $52.64 on Friday. Brookfield Asset Management Ltd. has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The stock’s 50 day simple moving average is $52.37 and its two-hundred day simple moving average is $55.26. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $86.21 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 1.92 and a beta of 1.40.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a dividend of $0.5025 per share. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, February 27th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 3.8%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 115.13%.

Brookfield Asset Management Company 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.