Bamco Inc. NY Trims Holdings in Brookfield Asset Management Ltd. $BAM

Bamco Inc. NY trimmed its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 984,871 shares of the financial services provider’s stock after selling 76,894 shares during the quarter. Bamco Inc. NY owned about 0.06% of Brookfield Asset Management worth $56,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. PDS Planning Inc boosted its stake in Brookfield Asset Management by 4.8% during the third quarter. PDS Planning Inc now owns 4,054 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 184 shares in the last quarter. Truist Financial Corp grew its holdings in Brookfield Asset Management by 1.4% in the third quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock worth $754,000 after purchasing an additional 187 shares during the period. Yousif Capital Management LLC increased its stake in shares of Brookfield Asset Management by 2.1% during the third quarter. Yousif Capital Management LLC now owns 11,010 shares of the financial services provider’s stock valued at $627,000 after purchasing an additional 226 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Brookfield Asset Management by 38.0% during the third quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 233 shares in the last quarter. Finally, Wulff Hansen & CO. lifted its holdings in shares of Brookfield Asset Management by 3.2% during the third quarter. Wulff Hansen & CO. now owns 7,830 shares of the financial services provider’s stock valued at $446,000 after purchasing an additional 240 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BAM has been the topic of a number of analyst reports. Royal Bank Of Canada set a $74.00 price target on Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Monday, December 15th. JPMorgan Chase & Co. raised their price objective on Brookfield Asset Management from $68.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Wall Street Zen raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Morgan Stanley set a $63.00 target price on Brookfield Asset Management in a research note on Tuesday, February 17th. Finally, The Goldman Sachs Group reduced their price target on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.65.

Brookfield Asset Management Trading Down 0.6%

NYSE:BAM opened at $42.90 on Monday. The stock has a market cap of $70.26 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 1.52 and a beta of 1.42. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average price is $50.17 and its 200-day moving average price is $53.28. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. On average, equities research analysts forecast 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. Shareholders of record on Friday, February 27th will be issued a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s dividend payout ratio is 132.24%.

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.