Montrusco Bolton Investments Inc. Cuts Stake in Brookfield Asset Management Ltd. $BAM

Montrusco Bolton Investments Inc. lessened its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 25.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 313,417 shares of the financial services provider’s stock after selling 108,778 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Brookfield Asset Management were worth $17,312,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Brookfield Asset Management by 1.8% during the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock worth $832,833,000 after purchasing an additional 302,852 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in Brookfield Asset Management by 12.2% during the 2nd quarter. DAVENPORT & Co LLC now owns 3,556,812 shares of the financial services provider’s stock worth $196,348,000 after purchasing an additional 385,937 shares during the period. The Manufacturers Life Insurance Company increased its holdings 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 valued at $163,354,000 after acquiring an additional 1,246,011 shares during the last quarter. Douglass Winthrop Advisors LLC grew its stake in Brookfield Asset Management by 0.5% during 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 buying an additional 14,498 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Brookfield Asset Management by 107.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,363,192 shares of the financial services provider’s stock worth $114,497,000 after buying an additional 1,224,012 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BMO Capital Markets raised 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. Bank of America lowered Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price objective for the company. in a report on Thursday, September 4th. Jefferies Financial Group increased their price objective on Brookfield Asset Management from $55.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, August 13th. CIBC increased their price objective on Brookfield Asset Management from $70.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, TD Securities raised their price target on Brookfield Asset Management from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Two 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.52.

Brookfield Asset Management Price Performance

BAM stock opened at $55.06 on Monday. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10. The company has a fifty day moving average price of $59.29 and a 200-day moving average price of $56.36. The company has a market capitalization of $90.18 billion, a P/E ratio of 36.95, a PEG ratio of 2.03 and a beta of 1.39. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25.

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 analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $1.11 billion for 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%. As a group, equities analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

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

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.