Cumberland Partners Ltd Sells 44,055 Shares of Brookfield Asset Management Ltd. $BAM

Cumberland Partners Ltd decreased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 38.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,790 shares of the financial services provider’s stock after selling 44,055 shares during the quarter. Cumberland Partners Ltd’s holdings in Brookfield Asset Management were worth $3,910,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its position in Brookfield Asset Management by 1,270.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 432 shares during the last quarter. Truvestments Capital LLC boosted its position in shares of Brookfield Asset Management by 85.5% during the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 432 shares in the last quarter. DHJJ Financial Advisors Ltd. grew its stake in Brookfield Asset Management by 100,000.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 1,000 shares during the period. First Horizon Advisors Inc. grew its stake in Brookfield Asset Management by 127.7% during the second quarter. First Horizon Advisors Inc. now owns 995 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 558 shares during the period. Finally, Trust Co. of Vermont increased its holdings in Brookfield Asset Management by 90.4% in the second quarter. Trust Co. of Vermont now owns 1,070 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 508 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Up 1.3%

Shares of NYSE BAM opened at $50.55 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25. The company has a 50-day moving average price of $55.70 and a 200-day moving average price of $57.30. The stock has a market capitalization of $82.80 billion, a P/E ratio of 33.93, a P/E/G ratio of 2.04 and a beta of 1.38. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. On average, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 109.38%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BAM. Bank of America downgraded shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price objective for the company. in a research report on Thursday, September 4th. Wall Street Zen cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $58.00 price objective on shares of Brookfield Asset Management in a report on Thursday, August 7th. BMO Capital Markets raised their target price on Brookfield Asset Management from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Thursday, August 7th. Finally, CIBC upped their price target on Brookfield Asset Management from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $64.32.

Brookfield Asset Management Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.