Brookfield Asset Management Ltd. $BAM Shares Sold by Capital World Investors

Capital World Investors reduced its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 67.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,066,494 shares of the financial services provider’s stock after selling 10,381,941 shares during the quarter. Capital World Investors’ holdings in Brookfield Asset Management were worth $265,427,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. LOM Asset Management Ltd acquired a new position in Brookfield Asset Management in the 4th quarter valued at $31,000. eCIO Inc. acquired a new position in shares of Brookfield Asset Management during the 4th quarter worth $42,000. Assetmark Inc. grew its stake in shares of Brookfield Asset Management by 95.9% during the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 395 shares during the period. Cary Street Partners Financial LLC grew its stake in shares of Brookfield Asset Management by 227.5% during the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 562 shares during the period. Finally, Allworth Financial LP grew its stake in shares of Brookfield Asset Management by 47.8% during the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 333 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BAM shares. Canadian Imperial Bank of Commerce set a $62.50 price target on shares of Brookfield Asset Management in a research note on Monday, May 11th. Wall Street Zen cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Morgan Stanley lowered their price target on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Zacks Research cut shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. Finally, Weiss Ratings cut shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $60.21.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $45.94 on Tuesday. The firm has a market cap of $75.25 billion, a price-to-earnings ratio of 29.83, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average is $47.18 and its two-hundred day moving average is $49.28. Brookfield Asset Management Ltd. has a 12-month low of $42.20 and a 12-month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. Research analysts expect that Brookfield Asset Management Ltd. will post 1.75 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio is 130.52%.

Brookfield Asset Management 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.