Copeland Capital Management LLC Sells 874 Shares of Brookfield Asset Management Ltd. $BAM

Copeland Capital Management LLC trimmed its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 22,634 shares of the financial services provider’s stock after selling 874 shares during the quarter. Copeland Capital Management LLC’s holdings in Brookfield Asset Management were worth $1,251,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock worth $832,833,000 after acquiring an additional 302,852 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Brookfield Asset Management by 58.9% during the first quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider’s stock valued at $163,354,000 after purchasing an additional 1,246,011 shares in the last quarter. Douglass Winthrop Advisors LLC lifted its holdings in shares of Brookfield Asset Management by 0.5% during the first quarter. Douglass Winthrop Advisors LLC now owns 2,672,065 shares of the financial services provider’s stock valued at $129,342,000 after purchasing an additional 14,498 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Brookfield Asset Management by 107.4% during the first quarter. Goldman Sachs Group Inc. now owns 2,363,192 shares of the financial services provider’s stock valued at $114,497,000 after purchasing an additional 1,224,012 shares in the last quarter. Finally, Bank of Nova Scotia lifted its holdings in shares of Brookfield Asset Management by 1.2% during the first quarter. Bank of Nova Scotia now owns 2,269,833 shares of the financial services provider’s stock valued at $109,913,000 after purchasing an additional 27,913 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Trading Up 1.8%

Shares of BAM stock opened at $57.83 on Friday. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. The firm has a fifty day moving average price of $59.72 and a 200-day moving average price of $56.03. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $94.70 billion, a price-to-earnings ratio of 38.81, a PEG ratio of 2.07 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. As a group, equities analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were given a $0.4375 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 3.0%. Brookfield Asset Management’s dividend payout ratio is presently 117.45%.

Analysts Set New Price Targets

BAM has been the topic of a number of research analyst reports. National Bankshares set a $71.00 price target on Brookfield Asset Management and gave the company an “outperform” rating in a report on Tuesday, July 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Brookfield Asset Management in a report on Saturday, September 27th. TD Securities upped their price target on Brookfield Asset Management from $66.00 to $75.00 and gave the company a “buy” rating in a report on Monday, July 28th. National Bank Financial initiated coverage on Brookfield Asset Management in a report on Tuesday, July 29th. They set an “outperform” rating and a $71.00 price target on the stock. Finally, Bank of America downgraded Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price target on the stock. in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.52.

About Brookfield Asset Management

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.