Montrusco Bolton Investments Inc. Sells 144,310 Shares of Brookfield Asset Management Ltd. $BAM

Montrusco Bolton Investments Inc. trimmed its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 36.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 250,344 shares of the financial services provider’s stock after selling 144,310 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Brookfield Asset Management were worth $11,199,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Trust Co. of Vermont bought a new position in shares of Brookfield Asset Management during the 2nd quarter worth approximately $25,000. Compass Financial Management LLC bought a new stake in Brookfield Asset Management in the 2nd quarter valued at $27,000. Allied Private Wealth LLC bought a new stake in Brookfield Asset Management in the 2nd quarter valued at $40,000. Root Financial Partners LLC lifted its holdings in Brookfield Asset Management by 184.5% during the 1st quarter. Root Financial Partners LLC now owns 1,283 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 832 shares during the last quarter. Finally, Hanson & Doremus Investment Management lifted its holdings in Brookfield Asset Management by 19.3% during the 1st quarter. Hanson & Doremus Investment Management now owns 1,548 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 250 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock traded down $0.61 on Tuesday, hitting $45.22. The stock had a trading volume of 5,485,024 shares, compared to its average volume of 3,193,090. The stock has a market cap of $74.08 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 1.89 and a beta of 1.31. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. Brookfield Asset Management Ltd. has a twelve month low of $42.20 and a twelve month high of $57.56. The business’s 50 day moving average is $48.99 and its two-hundred day moving average is $47.69.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate 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 forecast that Brookfield Asset Management Ltd. will post 1.78 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were given a dividend of $0.5025 per share. The ex-dividend date was Monday, August 31st. This represents a $2.01 annualized dividend and a yield of 4.4%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 116.86%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bank of America reduced their price objective on shares of Brookfield Asset Management from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Weiss Ratings raised shares of Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Brookfield Asset Management from $48.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, August 6th. Scotiabank restated an “outperform” rating and set a $59.00 target price on shares of Brookfield Asset Management in a research note on Thursday, August 6th. Finally, Scotia lifted their target price on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.22.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset management company that provides investment management services and strategies for institutional investors, governments, financial institutions and private wealth clients. The company invests in and manages assets on behalf of its clients across a range of private-market sectors.

Its principal investment strategies include renewable power and energy transition, infrastructure, private equity, real estate and credit.