Motley Fool Wealth Management LLC Lowers Stock Position in Brookfield Asset Management Ltd. $BAM

Motley Fool Wealth Management LLC lessened its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 19.8% during the second quarter, Holdings Channel.com reports. The firm owned 209,780 shares of the financial services provider’s stock after selling 51,630 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Brookfield Asset Management were worth $11,597,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of Brookfield Asset Management by 1,270.6% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 432 shares in the last quarter. Rossby Financial LCC purchased a new stake in shares of Brookfield Asset Management during the 1st quarter worth approximately $28,000. Truvestments Capital LLC boosted its stake in shares of Brookfield Asset Management by 85.5% during the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 432 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Brookfield Asset Management by 1,079.6% during the 1st quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 1,004 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. boosted its stake in shares of Brookfield Asset Management by 100,000.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on BAM. National Bankshares decreased their price target on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $58.00 price target on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Piper Sandler reduced their target price on Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Morgan Stanley set a $62.00 target price on Brookfield Asset Management in a research note on Monday, October 13th. Finally, TD Securities upped their target price on Brookfield Asset Management from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Brookfield Asset Management presently has an average rating of “Moderate Buy” and an average target price of $64.14.

Brookfield Asset Management Trading Up 0.4%

Shares of BAM opened at $54.57 on Tuesday. The stock has a fifty day moving average of $57.78 and a two-hundred day moving average of $57.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $89.37 billion, a PE ratio of 36.62, a price-to-earnings-growth ratio of 2.03 and a beta of 1.39. Brookfield Asset Management Ltd. has a fifty-two week low of $41.78 and a fifty-two week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business 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%. As a group, analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $0.4375 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.75 annualized dividend and a yield of 3.2%. 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.