Mufg Securities Canada LTD. Cuts Stock Position in Brookfield Asset Management Ltd. $BAM

Mufg Securities Canada LTD. lessened its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 532,989 shares of the financial services provider’s stock after selling 25,816 shares during the quarter. Mufg Securities Canada LTD.’s holdings in Brookfield Asset Management were worth $23,871,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Trust Co. of Vermont purchased a new position in Brookfield Asset Management in the second quarter worth $25,000. Zions Bancorporation National Association UT lifted its holdings in shares of Brookfield Asset Management by 241.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 345 shares during the last quarter. Allied Private Wealth LLC purchased a new stake in shares of Brookfield Asset Management during the 2nd quarter valued at $40,000. Allworth Financial LP boosted its position in shares of Brookfield Asset Management by 47.8% in 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 in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Brookfield Asset Management by 709.8% in the 4th quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on BAM shares. Morgan Stanley set a $56.00 target price on Brookfield Asset Management and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. UBS Group increased their price target on Brookfield Asset Management from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Brookfield Asset Management in a report on Wednesday, August 12th. Scotiabank restated an “outperform” rating and set a $59.00 price target on shares of Brookfield Asset Management in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada cut their price objective on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Brookfield Asset Management has an average rating of “Hold” and a consensus price target of $59.32.

Brookfield Asset Management Trading Down 1.2%

NYSE:BAM opened at $51.50 on Tuesday. The company has a market capitalization of $84.37 billion, a P/E ratio of 29.94, a PEG ratio of 2.13 and a beta of 1.26. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $62.57. The firm has a fifty day simple moving average of $49.18 and a 200-day simple moving average of $47.85.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%.The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.78 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.5025 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.01 dividend on an annualized basis and a dividend yield of 3.9%. Brookfield Asset Management’s dividend payout ratio is currently 116.86%.

About Brookfield Asset Management

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.