Mcdonald Capital Investors Inc. CA Cuts Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Mcdonald Capital Investors Inc. CA reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 387,262 shares of the financial services provider’s stock after selling 5,304 shares during the period. Brookfield Asset Management comprises 1.3% of Mcdonald Capital Investors Inc. CA’s investment portfolio, making the stock its 17th biggest holding. Mcdonald Capital Investors Inc. CA’s holdings in Brookfield Asset Management were worth $20,986,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in Brookfield Asset Management by 11.6% during the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after purchasing an additional 168,170 shares during the last quarter. Laffer Tengler Investments Inc. lifted its holdings in Brookfield Asset Management by 24.2% during the fourth quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock valued at $8,008,000 after purchasing an additional 28,768 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in Brookfield Asset Management by 2,857.1% during the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 10,000 shares during the last quarter. Plato Investment Management Ltd lifted its holdings in Brookfield Asset Management by 173.7% during the fourth quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 6,580 shares during the last quarter. Finally, Tacita Capital Inc lifted its holdings in Brookfield Asset Management by 19.3% during the fourth quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock valued at $2,585,000 after purchasing an additional 7,743 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Down 3.1 %

BAM stock opened at $48.75 on Monday. The company’s 50 day moving average is $56.50 and its 200 day moving average is $52.88. The stock has a market cap of $21.60 billion, a price-to-earnings ratio of 36.93, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.4375 per share. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BAM shares. Keefe, Bruyette & Woods dropped their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. TD Securities upped their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Finally, Scotiabank decreased their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Brookfield Asset Management has an average rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Company 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.