Ervin Investment Management LLC Sells 28,985 Shares of Brookfield Asset Management Ltd. $BAM

Ervin Investment Management LLC lowered its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 86.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,576 shares of the financial services provider’s stock after selling 28,985 shares during the period. Ervin Investment Management LLC’s holdings in Brookfield Asset Management were worth $240,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BAM. AQR Capital Management LLC bought a new stake in Brookfield Asset Management in the first quarter valued at $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Brookfield Asset Management by 24.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 497 shares in the last quarter. Invesco Ltd. boosted its holdings in Brookfield Asset Management by 38.7% in the second quarter. Invesco Ltd. now owns 1,867,350 shares of the financial services provider’s stock valued at $103,227,000 after acquiring an additional 521,282 shares in the last quarter. Finally, Amundi boosted its holdings in Brookfield Asset Management by 57.6% in the second quarter. Amundi now owns 475,199 shares of the financial services provider’s stock valued at $26,393,000 after acquiring an additional 173,673 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $43.93 on Wednesday. The business has a fifty day simple moving average of $47.17 and a two-hundred day simple moving average of $51.53. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $71.96 billion, a P/E ratio of 28.90, a P/E/G ratio of 1.57 and a beta of 1.38. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%. On average, equities 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 business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th were given a $0.5025 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $2.01 annualized dividend and a dividend yield of 4.6%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s payout ratio is presently 132.24%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BAM. UBS Group set a $52.00 price objective on Brookfield Asset Management in a research report on Friday, February 20th. Piper Sandler lowered their price objective on Brookfield Asset Management from $53.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday. Loop Capital set a $60.00 price objective on Brookfield Asset Management in a research report on Tuesday, January 6th. Zacks Research lowered Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. Finally, Scotiabank lowered their price objective on Brookfield Asset Management from $64.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Hold” and an average price target of $61.82.

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.