Mufg Securities Canada LTD. Reduces Stock Holdings in Brookfield Asset Management Ltd. $BAM

Mufg Securities Canada LTD. lowered its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 532,989 shares of the financial services provider’s stock after selling 25,816 shares during the quarter. Mufg Securities Canada LTD.’s holdings in Brookfield Asset Management were worth $23,871,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Zions Bancorporation National Association UT lifted its position in Brookfield Asset Management by 241.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 345 shares during the period. Trust Co. of Vermont acquired a new stake in Brookfield Asset Management during the 2nd quarter worth about $25,000. Allied Private Wealth LLC acquired a new stake in Brookfield Asset Management during the 2nd quarter worth about $40,000. Allworth Financial LP raised its stake in shares of Brookfield Asset Management by 47.8% during the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock valued at $54,000 after buying an additional 333 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Brookfield Asset Management by 709.8% during the 4th quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider’s stock valued at $56,000 after buying an additional 937 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $51.50 on Tuesday. The company has a market capitalization of $84.37 billion, a P/E ratio of 29.94, a P/E/G ratio of 2.13 and a beta of 1.26. The business’s 50 day moving average is $49.18 and its two-hundred day moving average is $47.85. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. Brookfield Asset Management Ltd. has a 12-month low of $42.20 and a 12-month high of $62.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%. Analysts expect that Brookfield Asset Management Ltd. will post 1.78 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a $0.5025 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.01 dividend on an annualized basis and a yield of 3.9%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 116.86%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BAM shares. National Bank Financial boosted their price objective on Brookfield Asset Management from $69.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Morgan Stanley set a $56.00 price target on Brookfield Asset Management and gave the company an “equal weight” rating in a report on Tuesday, July 21st. UBS Group upped their price objective on Brookfield Asset Management from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Finally, Canadian Imperial Bank of Commerce set a $62.50 price objective on shares of Brookfield Asset Management in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and a consensus price target of $59.32.

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.