QV Investors Inc. Sells 64,935 Shares of Brookfield Asset Management Ltd. $BAM

QV Investors Inc. trimmed its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 15.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 342,681 shares of the financial services provider’s stock after selling 64,935 shares during the period. Brookfield Asset Management accounts for 1.9% of QV Investors Inc.’s portfolio, making the stock its 16th largest position. QV Investors Inc.’s holdings in Brookfield Asset Management were worth $18,928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Brookfield Asset Management by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock worth $832,833,000 after acquiring an additional 302,852 shares in the last quarter. TD Asset Management Inc raised its position in shares of Brookfield Asset Management by 1.6% in the 2nd quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider’s stock worth $861,101,000 after acquiring an additional 250,068 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of Brookfield Asset Management by 12.2% in the 2nd quarter. DAVENPORT & Co LLC now owns 3,556,812 shares of the financial services provider’s stock worth $196,348,000 after acquiring an additional 385,937 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Brookfield Asset Management by 58.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider’s stock worth $163,354,000 after acquiring an additional 1,246,011 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC raised its position in shares of Brookfield Asset Management by 0.5% in the 1st quarter. Douglass Winthrop Advisors LLC now owns 2,672,065 shares of the financial services provider’s stock worth $129,342,000 after acquiring an additional 14,498 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BAM. BMO Capital Markets boosted their price target on Brookfield Asset Management from $53.00 to $56.00 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Weiss Ratings restated a “buy (b)” rating on shares of Brookfield Asset Management in a research note on Wednesday, October 8th. Morgan Stanley set a $62.00 target price on Brookfield Asset Management in a research note on Monday, October 13th. CIBC boosted their target price 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. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $58.00 target price on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $64.27.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $54.38 on Friday. The stock has a market cap of $89.05 billion, a PE ratio of 36.49, a price-to-earnings-growth ratio of 2.03 and a beta of 1.39. The business has a 50-day simple moving average of $57.91 and a 200-day simple moving average of $56.88. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10.

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

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend 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 117.45%.

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.