Motley Fool Asset Management LLC Sells 3,720 Shares of Brookfield Asset Management Ltd. $BAM

Motley Fool Asset Management LLC lessened its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 199,712 shares of the financial services provider’s stock after selling 3,720 shares during the period. Motley Fool Asset Management LLC’s holdings in Brookfield Asset Management were worth $11,040,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BAM. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Brookfield Asset Management by 975.9% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,765,220 shares of the financial services provider’s stock worth $85,463,000 after purchasing an additional 1,601,155 shares during the last quarter. Millennium Management LLC increased its position in Brookfield Asset Management by 461.5% in the first quarter. Millennium Management LLC now owns 1,722,683 shares of the financial services provider’s stock worth $83,464,000 after purchasing an additional 1,415,866 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Brookfield Asset Management by 58.9% during the first quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider’s stock valued at $163,354,000 after acquiring an additional 1,246,011 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Brookfield Asset Management by 107.4% during the first quarter. Goldman Sachs Group Inc. now owns 2,363,192 shares of the financial services provider’s stock valued at $114,497,000 after acquiring an additional 1,224,012 shares during the last quarter. Finally, AGF Management Ltd. increased its position in Brookfield Asset Management by 60.5% during the first quarter. AGF Management Ltd. now owns 1,603,608 shares of the financial services provider’s stock valued at $77,742,000 after acquiring an additional 604,395 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on BAM shares. Morgan Stanley set a $62.00 price objective on shares of Brookfield Asset Management in a research report on Monday, October 13th. BMO Capital Markets boosted their price objective on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the company a “market perform” rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $58.00 price objective on shares of Brookfield Asset Management in a research report on Thursday, August 7th. Piper Sandler cut their price objective on shares of Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Finally, National Bank Financial started coverage on shares of Brookfield Asset Management in a research report on Tuesday, July 29th. They set an “outperform” rating and a $71.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management has an average rating of “Moderate Buy” and a consensus price target of $64.14.

Brookfield Asset Management Stock Up 0.4%

Shares of BAM opened at $54.57 on Tuesday. The firm has a market capitalization of $89.37 billion, a P/E ratio of 36.62, a P/E/G ratio of 2.03 and a beta of 1.39. Brookfield Asset Management Ltd. has a 12-month low of $41.78 and a 12-month high of $64.10. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average price of $57.78 and a 200-day moving average price of $57.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Asset Management’s payout ratio is currently 117.45%.

About Brookfield Asset Management

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.