Marks Group Wealth Management Inc Sells 27,571 Shares of Brookfield Asset Management Ltd. $BAM

Marks Group Wealth Management Inc trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 18.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 119,311 shares of the financial services provider’s stock after selling 27,571 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Brookfield Asset Management were worth $6,251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BAM. AQR Capital Management LLC bought a new position in Brookfield Asset Management in the 1st quarter valued at $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Brookfield Asset Management by 10.1% in the 1st 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 purchasing an additional 24,013 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Brookfield Asset Management by 24.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider’s stock valued at $139,000 after purchasing an additional 497 shares during the last quarter. Cerity Partners LLC raised its position in Brookfield Asset Management by 17.6% in the 2nd quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider’s stock valued at $1,916,000 after purchasing an additional 5,184 shares during the last quarter. Finally, State Street Corp raised its position in Brookfield Asset Management by 11,172.2% in the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock valued at $194,845,000 after purchasing an additional 3,493,431 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Down 0.5%

Shares of BAM opened at $45.94 on Tuesday. Brookfield Asset Management Ltd. has a 52 week low of $42.20 and a 52 week high of $64.10. The business’s fifty day moving average price is $47.18 and its two-hundred day moving average price is $49.28. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market capitalization of $75.25 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 1.85 and a beta of 1.26.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.43 billion. On average, analysts predict that Brookfield Asset Management Ltd. will post 1.75 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be given a dividend of $0.5025 per share. The ex-dividend date is Friday, May 29th. This represents a $2.01 annualized dividend and a dividend yield of 4.4%. Brookfield Asset Management’s payout ratio is currently 130.52%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Royal Bank Of Canada cut their price objective on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. The Goldman Sachs Group cut their price objective on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Morgan Stanley dropped their target price on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. JPMorgan Chase & Co. decreased their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Finally, Wall Street Zen lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Brookfield Asset Management has a consensus rating of “Hold” and a consensus price target of $60.21.

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.