Capital World Investors Has $879.53 Million Position in Brookfield Asset Management Ltd. $BAM

Capital World Investors cut its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,448,435 shares of the financial services provider’s stock after selling 921,250 shares during the quarter. Capital World Investors owned approximately 0.94% of Brookfield Asset Management worth $879,531,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Manchester Capital Management LLC lifted its holdings in Brookfield Asset Management by 559.5% during the 2nd 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. bought a new stake in Brookfield Asset Management during the second quarter worth about $39,000. Assetmark Inc. grew its stake in Brookfield Asset Management by 95.9% during the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after buying an additional 395 shares during the last quarter. Cary Street Partners Financial LLC increased its holdings in shares of Brookfield Asset Management by 227.5% during the third quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after buying an additional 562 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Brookfield Asset Management by 93.3% in the third quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock valued at $47,000 after buying an additional 401 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of research reports. BMO Capital Markets upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Scotiabank set a $64.00 target price on Brookfield Asset Management and gave the company an “outperform” rating in a research note on Thursday, February 5th. Royal Bank Of Canada set a $74.00 price objective on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Monday, December 15th. Zacks Research upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Brookfield Asset Management has an average rating of “Moderate Buy” and an average price target of $63.65.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $45.28 on Wednesday. The company has a market cap of $74.17 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 1.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92. Brookfield Asset Management Ltd. has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The stock has a fifty day moving average price of $50.72 and a 200-day moving average price of $53.64.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued 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. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%. As a group, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a $0.5025 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 annualized dividend and a dividend yield of 4.4%. Brookfield Asset Management’s payout ratio is currently 132.24%.

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.