Markel Group Inc. cut its stake in Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,173,953 shares of the financial services provider’s stock after selling 20,000 shares during the quarter. Markel Group Inc.’s holdings in Brookfield Asset Management were worth $96,915,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently modified their holdings of the company. TD Waterhouse Canada Inc. grew its holdings in Brookfield Asset Management by 6.3% during the second quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider’s stock worth $227,422,000 after buying an additional 294,966 shares in the last quarter. Nykredit A S bought a new position in Brookfield Asset Management during the 2nd quarter valued at $3,451,000. Liontrust Investment Partners LLP purchased a new position in Brookfield Asset Management during the 1st quarter worth $11,161,000. Baird Financial Group Inc. boosted its holdings in Brookfield Asset Management by 131.4% during the 2nd quarter. Baird Financial Group Inc. now owns 45,809 shares of the financial services provider’s stock worth $2,054,000 after acquiring an additional 26,011 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Brookfield Asset Management in the 2nd quarter worth $8,235,000. Institutional investors own 68.41% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on BAM shares. Wells Fargo & Company initiated coverage on shares of Brookfield Asset Management in a report on Friday, October 2nd. They issued an “overweight” rating and a $41.00 target price for the company. UBS Group cut their price target on shares of Brookfield Asset Management from $55.00 to $49.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. Piper Sandler set a $49.00 price objective on shares of Brookfield Asset Management and gave the stock a “neutral” rating in a research report on Monday, October 19th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Brookfield Asset Management from $48.00 to $50.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada set a $65.00 target price on Brookfield Asset Management and gave the company an “outperform” rating in a report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.03.
Read Our Latest Stock Analysis on Brookfield Asset Management
Brookfield Asset Management Stock Performance
Shares of BAM stock opened at $50.91 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $83.41 billion, a price-to-earnings ratio of 29.58, a P/E/G ratio of 2.17 and a beta of 1.27. Brookfield Asset Management Ltd. has a 52 week low of $42.20 and a 52 week high of $55.97. The firm’s 50-day simple moving average is $47.12 and its two-hundred day simple moving average is $47.84.
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 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 $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. As a group, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.77 earnings per share for the current year.
Brookfield Asset Management Company Profile
Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.
Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.
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