Mufg Securities Canada LTD. lessened its holdings in Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) by 8.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 573,553 shares of the financial services provider’s stock after selling 49,733 shares during the period. Mufg Securities Canada LTD.’s holdings in Brookfield Asset Management were worth $30,052,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Focus Financial Network Inc. grew its position in Brookfield Asset Management by 4.6% in the fourth quarter. Focus Financial Network Inc. now owns 4,436 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 194 shares during the last quarter. Crescent Grove Advisors LLC grew its position in Brookfield Asset Management by 4.3% in the fourth quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider’s stock valued at $251,000 after acquiring an additional 200 shares during the last quarter. Kestra Advisory Services LLC grew its position in Brookfield Asset Management by 3.6% in the fourth quarter. Kestra Advisory Services LLC now owns 6,301 shares of the financial services provider’s stock valued at $330,000 after acquiring an additional 218 shares during the last quarter. Foundations Investment Advisors LLC grew its position in Brookfield Asset Management by 1.3% in the fourth quarter. Foundations Investment Advisors LLC now owns 17,165 shares of the financial services provider’s stock valued at $899,000 after acquiring an additional 226 shares during the last quarter. Finally, Kraematon Investment Advisors Inc. grew its position in Brookfield Asset Management by 2.0% in the fourth quarter. Kraematon Investment Advisors Inc. now owns 12,073 shares of the financial services provider’s stock valued at $632,000 after acquiring an additional 234 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Weiss Ratings cut Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. Scotiabank reiterated an “outperform” rating and issued a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. The Goldman Sachs Group decreased their target price on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Piper Sandler reiterated a “neutral” rating and issued a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. Finally, Royal Bank Of Canada decreased their target price on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and an average price target of $60.21.
Brookfield Asset Management Stock Performance
Shares of BAM stock opened at $47.09 on Monday. The business’s 50-day moving average price is $47.42 and its 200-day moving average price is $49.17. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $64.10. The firm has a market capitalization of $77.14 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 1.89 and a beta of 1.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34.
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last announced its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.43 billion. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.75 EPS for the current year.
Brookfield Asset Management Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 130.52%.
Brookfield Asset Management Company 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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