TD Asset Management Inc Cuts Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

TD Asset Management Inc lowered its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 8.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,339,316 shares of the financial services provider’s stock after selling 1,325,110 shares during the quarter. TD Asset Management Inc owned 0.94% of Brookfield Asset Management worth $742,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Rossby Financial LCC purchased a new stake in shares of Brookfield Asset Management during the first quarter worth $28,000. ST Germain D J Co. Inc. purchased a new stake in shares of Brookfield Asset Management during the first quarter worth $26,000. NewEdge Advisors LLC increased its position in shares of Brookfield Asset Management by 61.0% during the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 325 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in shares of Brookfield Asset Management during the fourth quarter worth $54,000. Finally, Larson Financial Group LLC increased its position in shares of Brookfield Asset Management by 1,079.6% during the first quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 1,004 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $63.03 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31. Brookfield Asset Management Ltd. has a 1 year low of $38.18 and a 1 year high of $63.53. The company has a market capitalization of $103.22 billion, a PE ratio of 44.70, a P/E/G ratio of 2.45 and a beta of 1.43. The company has a fifty day moving average of $56.87 and a two-hundred day moving average of $54.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were paid a $0.4375 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.75 annualized dividend and a yield of 2.78%. Brookfield Asset Management’s dividend payout ratio is presently 124.11%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Bank of America raised Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Thursday, April 10th. Wells Fargo & Company boosted their target price on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an “underweight” rating in a research note on Friday, July 11th. Piper Sandler initiated coverage on shares of Brookfield Asset Management in a research note on Monday, June 30th. They set a “neutral” rating and a $60.00 target price for the company. Scotiabank boosted their target price on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Finally, Jefferies Financial Group lowered their target price on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.64.

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.