Strs Ohio Sells 36,031 Shares of Brookfield Asset Management Ltd. $BAM

Strs Ohio lowered its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 10.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 300,366 shares of the financial services provider’s stock after selling 36,031 shares during the period. Strs Ohio’s holdings in Brookfield Asset Management were worth $17,099,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. TD Asset Management Inc boosted its stake in Brookfield Asset Management by 1.6% in the second quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider’s stock valued at $861,101,000 after acquiring an additional 250,068 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Brookfield Asset Management by 2.5% during the 2nd quarter. Mackenzie Financial Corp now owns 11,400,930 shares of the financial services provider’s stock valued at $631,412,000 after purchasing an additional 282,853 shares during the last quarter. Norges Bank purchased a new stake in shares of Brookfield Asset Management during the 2nd quarter valued at $294,730,000. The Manufacturers Life Insurance Company boosted its position in shares of Brookfield Asset Management by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,218,119 shares of the financial services provider’s stock worth $232,402,000 after purchasing an additional 857,994 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Brookfield Asset Management by 62.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider’s stock worth $208,571,000 after buying an additional 1,443,441 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on BAM. Royal Bank Of Canada set a $74.00 price target on Brookfield Asset Management and gave the company an “outperform” rating in a research note on Monday, December 15th. The Goldman Sachs Group cut their price objective on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Loop Capital set a $60.00 price objective on shares of Brookfield Asset Management in a research report on Tuesday, January 6th. 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. Finally, Keefe, Bruyette & Woods cut their price target on shares of 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. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.38.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $51.26 on Friday. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. The business’s 50 day moving average price is $52.58 and its 200 day moving average price is $56.17. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. The firm has a market cap of $83.96 billion, a P/E ratio of 32.04, a P/E/G ratio of 2.20 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.34 billion. On average, sell-side analysts expect 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 Wednesday, December 31st. Investors of record on Friday, November 28th were given a dividend of $0.4375 per share. The ex-dividend date was Friday, November 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.4%. Brookfield Asset Management’s payout ratio is currently 109.38%.

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.