Mirabella Financial Services LLP Trims Holdings in Brookfield Asset Management Ltd. $BAM

Mirabella Financial Services LLP reduced its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 70.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 12,767 shares of the financial services provider’s stock after selling 29,761 shares during the quarter. Mirabella Financial Services LLP’s holdings in Brookfield Asset Management were worth $708,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cetera Investment Advisers grew its position in shares of Brookfield Asset Management by 37.9% in the first quarter. Cetera Investment Advisers now owns 40,042 shares of the financial services provider’s stock valued at $1,938,000 after purchasing an additional 11,008 shares during the period. LPL Financial LLC boosted its stake in Brookfield Asset Management by 6.1% in the 1st quarter. LPL Financial LLC now owns 55,354 shares of the financial services provider’s stock worth $2,682,000 after buying an additional 3,173 shares during the last quarter. US Bancorp DE grew its holdings in Brookfield Asset Management by 8.9% in the 1st quarter. US Bancorp DE now owns 17,402 shares of the financial services provider’s stock valued at $843,000 after buying an additional 1,425 shares during the period. Vanguard Group Inc. increased its stake in shares of Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock valued at $832,833,000 after acquiring an additional 302,852 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new position in shares of Brookfield Asset Management during the 1st quarter valued at about $319,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, November 24th. National Bankshares decreased their price target on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Bank of America downgraded Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price objective for the company. in a report on Thursday, September 4th. Piper Sandler cut their target price on Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Finally, Scotiabank lowered their price target on Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating for the company in a research report on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.32.

Brookfield Asset Management Trading Up 0.7%

BAM opened at $53.27 on Friday. The firm’s 50 day moving average is $54.03 and its 200-day moving average is $56.85. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10. 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 capitalization of $87.24 billion, a P/E ratio of 33.29, a P/E/G ratio of 1.97 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.34 billion. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. Analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be paid a dividend of $0.4375 per share. The ex-dividend date is Friday, November 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.3%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 109.38%.

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.