Brookfield Asset Management Ltd. $BAM Shares Sold by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 623,286 shares of the financial services provider’s stock after selling 15,127 shares during the quarter. Brookfield Asset Management accounts for approximately 1.0% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 28th biggest position. Mufg Securities Canada LTD.’s holdings in Brookfield Asset Management were worth $35,466,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Manchester Capital Management LLC boosted its stake in shares of 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 period. Sagard Holdings Management Inc. purchased a new position in Brookfield Asset Management in the 2nd quarter valued at approximately $39,000. Assetmark Inc. boosted its position in Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after buying an additional 395 shares during the period. Cary Street Partners Financial LLC grew its stake in shares of Brookfield Asset Management by 227.5% in the third quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 562 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 401 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BAM shares. The Goldman Sachs Group decreased their target price on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, January 6th. BMO Capital Markets upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. JPMorgan Chase & Co. raised their target price on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Finally, Loop Capital set a $60.00 price target on shares of Brookfield Asset Management in a report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and an average target price of $63.65.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $46.68 on Friday. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10. The firm has a market capitalization of $76.47 billion, a P/E ratio of 30.71, a P/E/G ratio of 1.63 and a beta of 1.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97. The company’s fifty day moving average price is $51.67 and its 200 day moving average price is $54.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data 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 company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. As a group, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be paid a dividend of $0.5025 per share. The ex-dividend date is Friday, February 27th. This represents a $2.01 dividend on an annualized basis and a yield of 4.3%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s dividend payout ratio (DPR) is 115.13%.

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.