Baskin Financial Services Inc. Decreases Stake in Brookfield Asset Management Ltd. $BAM

Baskin Financial Services Inc. reduced its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 277,686 shares of the financial services provider’s stock after selling 3,360 shares during the period. Brookfield Asset Management makes up about 1.2% of Baskin Financial Services Inc.’s holdings, making the stock its 29th largest position. Baskin Financial Services Inc.’s holdings in Brookfield Asset Management were worth $15,367,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in BAM. Kirr Marbach & Co. LLC IN lifted its holdings in Brookfield Asset Management by 0.6% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider’s stock valued at $1,715,000 after purchasing an additional 203 shares in the last quarter. Lincoln Capital LLC lifted its holdings in Brookfield Asset Management by 0.9% in the 1st quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider’s stock valued at $1,145,000 after purchasing an additional 210 shares in the last quarter. Focus Financial Network Inc. lifted its holdings in Brookfield Asset Management by 5.2% in the 1st quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 218 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Brookfield Asset Management by 17.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,015 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 299 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in Brookfield Asset Management by 3.2% in the 1st quarter. Advisors Asset Management Inc. now owns 10,171 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 314 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of recent research reports. National Bankshares set a $71.00 target price on shares of Brookfield Asset Management and gave the company an “outperform” rating in a report on Tuesday, July 29th. Piper Sandler reduced their target price on shares of Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. CIBC upped their target price on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Wells Fargo & Company upped their price objective on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the company an “underweight” rating in a research note on Friday, July 11th. Finally, BMO Capital Markets upped their price objective on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $63.52.

Brookfield Asset Management Trading Up 0.6%

NYSE BAM opened at $58.73 on Friday. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10. The company has a 50-day moving average of $59.38 and a 200-day moving average of $56.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $96.18 billion, a P/E ratio of 39.41, a P/E/G ratio of 2.16 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. As a group, equities analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Asset Management’s dividend payout ratio is 117.45%.

Brookfield Asset Management Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.