Picton Mahoney Asset Management Reduces Stock Position in Brookfield Asset Management Ltd. $BAM

Picton Mahoney Asset Management trimmed its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 99.4% in the third quarter, Holdings Channel.com reports. The fund owned 4,571 shares of the financial services provider’s stock after selling 800,000 shares during the period. Picton Mahoney Asset Management’s holdings in Brookfield Asset Management were worth $260,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BAM. Vanguard Group Inc. lifted its position in shares of Brookfield Asset Management by 1.5% in the third quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock valued at $991,677,000 after acquiring an additional 253,789 shares in the last quarter. Cumberland Partners Ltd increased its position in Brookfield Asset Management by 78.0% during the 3rd quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider’s stock worth $7,168,000 after purchasing an additional 55,225 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in Brookfield Asset Management by 65.6% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider’s stock valued at $14,463,000 after purchasing an additional 100,713 shares during the last quarter. New York State Common Retirement Fund raised its stake in Brookfield Asset Management by 18.5% in the 3rd quarter. New York State Common Retirement Fund now owns 465,600 shares of the financial services provider’s stock valued at $26,511,000 after purchasing an additional 72,600 shares during the last quarter. Finally, Intact Investment Management Inc. lifted its holdings in Brookfield Asset Management by 127.5% in the 3rd quarter. Intact Investment Management Inc. now owns 590,560 shares of the financial services provider’s stock valued at $33,612,000 after purchasing an additional 330,970 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 2.5%

Shares of BAM stock opened at $46.08 on Friday. The firm’s 50-day simple moving average is $51.01 and its 200-day simple moving average is $53.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.92 and a quick ratio of 0.97. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10. The firm has a market cap of $75.48 billion, a P/E ratio of 30.32, a PEG ratio of 1.62 and a beta of 1.42.

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 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. As a group, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BAM shares. Scotiabank set a $64.00 price target on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a research note on Monday, December 22nd. Zacks Research upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Keefe, Bruyette & Woods reduced their price target on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating on the stock in a research note on Monday, November 10th. Finally, JPMorgan Chase & Co. raised their price objective on Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.65.

Brookfield Asset Management 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.