Bessemer Group Inc. Sells 19,414 Shares of Brookfield Asset Management Ltd. $BAM

Bessemer Group Inc. reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 75.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,148 shares of the financial services provider’s stock after selling 19,414 shares during the period. Bessemer Group Inc.’s holdings in Brookfield Asset Management were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. PDS Planning Inc raised its position in Brookfield Asset Management by 4.8% in the 3rd quarter. PDS Planning Inc now owns 4,054 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 184 shares during the last quarter. Truist Financial Corp boosted 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 valued at $754,000 after acquiring an additional 187 shares during the last quarter. GoalVest Advisory LLC boosted its stake in shares of Brookfield Asset Management by 9.5% in the 2nd quarter. GoalVest Advisory LLC now owns 2,180 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 190 shares during the last quarter. Yousif Capital Management LLC grew its holdings in Brookfield Asset Management by 2.1% during the 3rd quarter. Yousif Capital Management LLC now owns 11,010 shares of the financial services provider’s stock worth $627,000 after acquiring an additional 226 shares during the period. Finally, Cullen Frost Bankers Inc. grew 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 worth $48,000 after purchasing an additional 233 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

BAM stock opened at $52.39 on Thursday. The company has a market capitalization of $85.81 billion, a P/E ratio of 34.47, a PEG ratio of 1.94 and a beta of 1.40. The company has a fifty day moving average price of $52.41 and a 200-day moving average price of $55.36. 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 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 issued its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%.The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. As a group, equities analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on BAM. Loop Capital set a $60.00 price objective on shares of Brookfield Asset Management in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods decreased 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 report on Monday, November 10th. National Bank Financial cut their price objective 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. JPMorgan Chase & Co. lifted their price target on Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and an average target price of $63.94.

About Brookfield Asset Management

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.