JPMorgan Chase & Co. Sells 67,247 Shares of Brookfield Asset Management Ltd. $BAM

JPMorgan Chase & Co. cut its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,605,899 shares of the financial services provider’s stock after selling 67,247 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.10% of Brookfield Asset Management worth $91,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. PDS Planning Inc grew its position in shares of Brookfield Asset Management by 4.8% in the 3rd quarter. PDS Planning Inc now owns 4,054 shares of the financial services provider’s stock worth $231,000 after buying an additional 184 shares during the last quarter. Truist Financial Corp boosted its holdings in Brookfield Asset Management by 1.4% in the third quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock valued at $754,000 after acquiring an additional 187 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in Brookfield Asset Management by 2.1% in the third quarter. Yousif Capital Management LLC now owns 11,010 shares of the financial services provider’s stock valued at $627,000 after acquiring an additional 226 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in Brookfield Asset Management by 38.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 233 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its position in shares of Brookfield Asset Management by 3.2% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,578 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 238 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 1.7%

Shares of NYSE BAM opened at $44.48 on Wednesday. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50-day moving average of $49.73 and a 200 day moving average of $53.05. The stock has a market cap of $72.85 billion, a P/E ratio of 29.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be issued a $0.5025 dividend. This represents a $2.01 annualized dividend and a yield of 4.5%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, February 27th. Brookfield Asset Management’s dividend payout ratio is presently 132.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. 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 note on Monday, December 15th. Zacks Research raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. UBS Group set a $52.00 price objective on shares of Brookfield Asset Management in a report on Friday, February 20th. Morgan Stanley set a $63.00 target price on Brookfield Asset Management in a report on Tuesday, February 17th. Finally, Loop Capital set a $60.00 target price on Brookfield Asset Management in a research report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.65.

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.