Beutel Goodman & Co Ltd. reduced its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) by 14.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,916,794 shares of the financial services provider’s stock after selling 662,683 shares during the period. Beutel Goodman & Co Ltd.’s holdings in Brookfield Asset Management were worth $175,210,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Signaturefd LLC increased its holdings in shares of Brookfield Asset Management by 3.1% in the 3rd quarter. Signaturefd LLC now owns 8,330 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 253 shares in the last quarter. Crescent Grove Advisors LLC boosted its holdings in Brookfield Asset Management by 6.2% during the first quarter. Crescent Grove Advisors LLC now owns 5,100 shares of the financial services provider’s stock worth $227,000 after buying an additional 300 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Brookfield Asset Management by 22.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,674 shares of the financial services provider’s stock worth $75,000 after buying an additional 304 shares in the last quarter. NewEdge Wealth LLC grew its position in Brookfield Asset Management by 6.4% during the first quarter. NewEdge Wealth LLC now owns 5,739 shares of the financial services provider’s stock worth $255,000 after buying an additional 344 shares during the period. Finally, MGO One Seven LLC grew its position in Brookfield Asset Management by 7.9% during the third quarter. MGO One Seven LLC now owns 5,096 shares of the financial services provider’s stock worth $227,000 after buying an additional 371 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on BAM shares. Scotia increased their target price on shares of Brookfield Asset Management from $59.00 to $60.50 and gave the company a “sector outperform” rating in a report on Monday. UBS Group decreased their price target on Brookfield Asset Management from $55.00 to $49.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Morgan Stanley set a $54.00 price target on Brookfield Asset Management in a report on Friday, October 16th. Deutsche Bank Aktiengesellschaft upped their price target on Brookfield Asset Management from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. Finally, Piper Sandler raised their price objective on Brookfield Asset Management from $49.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.30.
Brookfield Asset Management Price Performance
Brookfield Asset Management stock opened at $54.16 on Tuesday. Brookfield Asset Management Ltd. has a 52 week low of $42.20 and a 52 week high of $55.97. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $47.22 and its 200 day simple moving average is $47.87. The firm has a market capitalization of $88.74 billion, a PE ratio of 31.10, a P/E/G ratio of 2.29 and a beta of 1.27.
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last issued its quarterly earnings data on Friday, November 6th. The financial services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $1.60 billion. On average, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.77 EPS for the current fiscal year.
Brookfield Asset Management Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Monday, November 30th will be issued a $0.5025 dividend. This represents a $2.01 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, November 30th. Brookfield Asset Management’s dividend payout ratio is 68.84%.
About Brookfield Asset Management
Brookfield Asset Management is a global alternative asset manager that invests in and manages assets on behalf of institutional and private wealth clients. Its investment strategies span infrastructure, renewable power and transition, private equity, real estate, and credit.
The company operates across North America, South America, Europe, the Middle East, and Asia-Pacific. Its businesses invest in and manage assets such as energy and transportation infrastructure, renewable power facilities, real estate, and companies across a range of industries.
Brookfield Asset Management became a separately listed company in 2022, following the separation of Brookfield Corporation’s asset management business.
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