Cooke & Bieler LP Reduces Position in Brookfield Asset Management Ltd. $BAM

Cooke & Bieler LP lessened its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 33.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,254,648 shares of the financial services provider’s stock after selling 625,254 shares during the period. Cooke & Bieler LP owned 0.08% of Brookfield Asset Management worth $69,357,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BAM. Caitong International Asset Management Co. Ltd grew its position in shares of Brookfield Asset Management by 1,270.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 432 shares in the last quarter. Rossby Financial LCC purchased a new stake in Brookfield Asset Management in the 1st quarter valued at $28,000. Truvestments Capital LLC grew its holdings in Brookfield Asset Management by 85.5% in the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock valued at $45,000 after buying an additional 432 shares in the last quarter. DHJJ Financial Advisors Ltd. grew its holdings in Brookfield Asset Management by 100,000.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider’s stock valued at $55,000 after buying an additional 1,000 shares in the last quarter. Finally, Trust Co. of Vermont grew its holdings in Brookfield Asset Management by 90.4% in the 2nd quarter. Trust Co. of Vermont now owns 1,070 shares of the financial services provider’s stock valued at $59,000 after buying an additional 508 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 0.7%

Shares of NYSE BAM opened at $54.05 on Friday. The business has a 50-day moving average of $57.34 and a two-hundred day moving average of $57.12. The company has a market capitalization of $88.52 billion, a price-to-earnings ratio of 36.27, a price-to-earnings-growth ratio of 2.04 and a beta of 1.39. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25.

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

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were given a $0.4375 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 3.2%. Brookfield Asset Management’s payout ratio is 117.45%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BAM. Scotiabank upped their price objective on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the company a “sector outperform” rating in a report on Thursday, August 7th. Jefferies Financial Group increased their price target on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, August 13th. Morgan Stanley set a $62.00 price target on shares of Brookfield Asset Management in a research note on Monday, October 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Brookfield Asset Management in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada increased their price objective on Brookfield Asset Management from $74.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.14.

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.