Brookfield Asset Management Ltd. $BAM Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. trimmed its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 33.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,220,088 shares of the financial services provider’s stock after selling 1,601,253 shares during the period. Cibc World Market Inc. owned 0.20% of Brookfield Asset Management worth $183,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its position 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. Manchester Capital Management LLC increased its stake in Brookfield Asset Management by 559.5% in the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 442 shares during the last quarter. Sagard Holdings Management Inc. acquired a new stake in Brookfield Asset Management during the second quarter worth approximately $39,000. GAMMA Investing LLC raised its holdings in Brookfield Asset Management by 93.3% during the third quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 401 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its position in shares of Brookfield Asset Management by 1,123.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 832 shares of the financial services provider’s stock worth $47,000 after buying an additional 764 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $52.94 on Wednesday. Brookfield Asset Management Ltd. has a one year low of $41.78 and a one year high of $64.10. The stock has a market capitalization of $86.71 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 2.13 and a beta of 1.40. The company has a 50-day simple moving average of $52.42 and a 200-day simple moving average of $55.38. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%. On average, analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a $0.5025 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 dividend on an annualized basis and a dividend yield of 3.8%. Brookfield Asset Management’s dividend payout ratio is presently 115.13%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BAM shares. Royal Bank Of Canada set a $74.00 target price on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research report on Monday, December 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Brookfield Asset Management in a research note on Monday, December 22nd. Loop Capital set a $60.00 target price on Brookfield Asset Management in a research report on Tuesday, January 6th. BMO Capital Markets raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Keefe, Bruyette & Woods decreased their target price on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a research report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $64.33.

About Brookfield Asset Management

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.