Skba Capital Management LLC Lowers Stock Holdings in Brookfield Asset Management Ltd. $BAM

Skba Capital Management LLC cut its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 26.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 102,100 shares of the financial services provider’s stock after selling 37,600 shares during the quarter. Skba Capital Management LLC’s holdings in Brookfield Asset Management were worth $5,814,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Laffer Tengler Investments Inc. lifted its holdings in shares of Brookfield Asset Management by 16.1% during the 3rd quarter. Laffer Tengler Investments Inc. now owns 150,136 shares of the financial services provider’s stock worth $8,549,000 after acquiring an additional 20,826 shares during the period. Diversify Wealth Management LLC increased its position in Brookfield Asset Management by 3.3% during the third quarter. Diversify Wealth Management LLC now owns 23,057 shares of the financial services provider’s stock worth $1,253,000 after purchasing an additional 743 shares during the last quarter. Xponance Inc. raised its stake in Brookfield Asset Management by 3.3% during the third quarter. Xponance Inc. now owns 31,545 shares of the financial services provider’s stock worth $1,796,000 after purchasing an additional 1,011 shares during the period. Montrusco Bolton Investments Inc. raised its stake in Brookfield Asset Management by 5.1% during the third quarter. Montrusco Bolton Investments Inc. now owns 329,296 shares of the financial services provider’s stock worth $18,744,000 after purchasing an additional 15,879 shares during the period. Finally, Intech Investment Management LLC grew its stake in shares of Brookfield Asset Management by 350.3% during the 3rd quarter. Intech Investment Management LLC now owns 38,722 shares of the financial services provider’s stock valued at $2,204,000 after buying an additional 30,122 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BAM has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on Brookfield Asset Management from $68.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. UBS Group set a $52.00 target price on shares of Brookfield Asset Management in a research report on Friday, February 20th. Royal Bank Of Canada set a $74.00 price target on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research report on Monday, December 15th. The Goldman Sachs Group decreased their price objective on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. Finally, BMO Capital Markets upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. 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 assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.65.

Brookfield Asset Management Trading Down 1.2%

NYSE BAM opened at $46.56 on Wednesday. The stock has a market cap of $76.26 billion, a P/E ratio of 30.63, a PEG ratio of 1.66 and a beta of 1.42. The company’s fifty day simple moving average is $51.42 and its 200-day simple moving average is $54.13. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 51.59% and a return on equity of 29.67%. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm 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 $0.5025 dividend. This represents a $2.01 annualized dividend and a dividend yield of 4.3%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, February 27th. Brookfield Asset Management’s payout ratio is presently 132.24%.

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.