Madison Asset Management LLC Cuts Stock Holdings in Brookfield Asset Management Ltd. $BAM

Madison Asset Management LLC lessened its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,908,051 shares of the financial services provider’s stock after selling 18,733 shares during the quarter. Brookfield Asset Management comprises approximately 1.2% of Madison Asset Management LLC’s holdings, making the stock its 22nd biggest holding. Madison Asset Management LLC owned approximately 0.12% of Brookfield Asset Management worth $108,644,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its holdings in Brookfield Asset Management by 1,270.6% in 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. Manchester Capital Management LLC increased its stake in Brookfield Asset Management by 559.5% during the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 442 shares during the last quarter. Sagard Holdings Management Inc. purchased a new position in shares of Brookfield Asset Management in the 2nd quarter worth about $39,000. GAMMA Investing LLC raised its holdings in shares of Brookfield Asset Management by 93.3% in the 3rd quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 401 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake in shares of Brookfield Asset Management by 1,123.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 832 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 764 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $52.94 on Wednesday. Brookfield Asset Management Ltd. has a 12-month low of $41.78 and a 12-month high of $64.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $86.71 billion, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of 2.13 and a beta of 1.40. The firm’s fifty day moving average price is $52.42 and its 200 day moving average price is $55.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%.The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. On average, research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be issued a dividend of $0.5025 per share. The ex-dividend date is Friday, February 27th. This represents a $2.01 annualized dividend and a yield of 3.8%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 115.13%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Loop Capital set a $60.00 target price on shares of Brookfield Asset Management in a research report on Tuesday, January 6th. UBS Group set a $58.00 price objective on shares of Brookfield Asset Management and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. The Goldman Sachs Group cut their target price on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Royal Bank Of Canada set a $74.00 price target on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Monday, December 15th. Finally, BMO Capital Markets upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $64.33.

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.