Strs Ohio reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) by 46.9% during the first quarter, HoldingsChannel.com reports. The firm owned 157,526 shares of the financial services provider’s stock after selling 139,217 shares during the quarter. Strs Ohio’s holdings in Brookfield Asset Management were worth $6,992,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Keybank National Association OH boosted its holdings in Brookfield Asset Management by 56.4% in the first quarter. Keybank National Association OH now owns 8,156 shares of the financial services provider’s stock worth $363,000 after acquiring an additional 2,942 shares in the last quarter. Root Financial Partners LLC boosted its stake in Brookfield Asset Management by 184.5% in the 1st quarter. Root Financial Partners LLC now owns 1,283 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 832 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ boosted its stake in Brookfield Asset Management by 1.7% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 97,691 shares of the financial services provider’s stock worth $4,330,000 after purchasing an additional 1,623 shares in the last quarter. Apollon Wealth Management LLC grew its position in Brookfield Asset Management by 4.0% during the 1st quarter. Apollon Wealth Management LLC now owns 19,898 shares of the financial services provider’s stock valued at $884,000 after purchasing an additional 767 shares during the last quarter. Finally, Canoe Financial LP purchased a new stake in Brookfield Asset Management during the 1st quarter valued at about $7,200,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.
Brookfield Asset Management Stock Performance
Shares of BAM stock opened at $45.88 on Monday. The company has a 50 day moving average price of $47.32 and a 200-day moving average price of $48.45. Brookfield Asset Management Ltd. has a 52 week low of $42.20 and a 52 week high of $64.10. The firm has a market capitalization of $75.17 billion, a PE ratio of 29.80, a P/E/G ratio of 1.85 and a beta of 1.29. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34.
Brookfield Asset Management Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were paid a dividend of $0.5025 per share. The ex-dividend date was Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a yield of 4.4%. Brookfield Asset Management’s payout ratio is currently 130.52%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Royal Bank Of Canada reduced their price target on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Scotiabank restated an “outperform” rating and issued a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a report on Monday, May 11th. Morgan Stanley lowered their price objective on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. Finally, Weiss Ratings lowered Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and an average target price of $60.21.
Read Our Latest Analysis on BAM
Brookfield Asset Management Profile
Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.
The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.
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