Brookfield Asset Management Ltd. $BAM Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lowered its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 42.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,835,120 shares of the financial services provider’s stock after selling 1,342,003 shares during the quarter. William Blair Investment Management LLC’s holdings in Brookfield Asset Management were worth $96,142,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Brookfield Asset Management by 72.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider’s stock worth $222,161,000 after purchasing an additional 1,642,375 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Brookfield Asset Management by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock worth $991,677,000 after purchasing an additional 253,789 shares during the last quarter. Cumberland Partners Ltd increased its position in shares of Brookfield Asset Management by 78.0% in the third quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider’s stock worth $7,168,000 after acquiring an additional 55,225 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Brookfield Asset Management by 65.6% in the third quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider’s stock worth $14,463,000 after acquiring an additional 100,713 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Brookfield Asset Management by 18.5% in the third quarter. New York State Common Retirement Fund now owns 465,600 shares of the financial services provider’s stock worth $26,511,000 after acquiring an additional 72,600 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

BAM stock opened at $47.96 on Friday. 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 stock has a market cap of $78.56 billion, a P/E ratio of 31.14, a P/E/G ratio of 1.95 and a beta of 1.28. The firm has a 50 day simple moving average of $46.27 and a 200 day simple moving average of $49.70. Brookfield Asset Management Ltd. has a 52 week low of $42.20 and a 52 week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted 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. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. Research analysts anticipate that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be issued a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 130.52%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. Zacks Research downgraded shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. Wall Street Zen downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Morgan Stanley dropped their target price on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. Finally, BMO Capital Markets raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Brookfield Asset Management currently has an average rating of “Hold” and an average target price of $60.21.

Brookfield Asset Management 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.