TD Waterhouse Canada Inc. Sells 281,159 Shares of Brookfield Asset Management Ltd. $BAM

TD Waterhouse Canada Inc. trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,721,969 shares of the financial services provider’s stock after selling 281,159 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Brookfield Asset Management were worth $208,581,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hanson & Doremus Investment Management increased its position in shares of Brookfield Asset Management by 19.3% in the 1st quarter. Hanson & Doremus Investment Management now owns 1,548 shares of the financial services provider’s stock valued at $69,000 after buying an additional 250 shares in the last quarter. Crescent Grove Advisors LLC lifted its holdings in Brookfield Asset Management by 6.2% during the first quarter. Crescent Grove Advisors LLC now owns 5,100 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 300 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Brookfield Asset Management by 22.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,674 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 304 shares during the period. NewEdge Wealth LLC grew its stake in Brookfield Asset Management by 6.4% in the first quarter. NewEdge Wealth LLC now owns 5,739 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 344 shares during the period. Finally, Allworth Financial LP raised its position in shares of Brookfield Asset Management by 16.0% during the second quarter. Allworth Financial LP now owns 2,958 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 408 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 1.4%

Shares of Brookfield Asset Management stock traded down $0.65 during trading on Friday, reaching $45.33. The stock had a trading volume of 2,661,095 shares, compared to its average volume of 3,404,476. The company has a market capitalization of $74.26 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 1.89 and a beta of 1.31. The stock has a fifty day moving average price of $48.41 and a two-hundred day moving average price of $47.71. Brookfield Asset Management Ltd. has a 52 week low of $42.20 and a 52 week high of $56.37. 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 (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.47 billion. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. Sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.78 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were given a $0.5025 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $2.01 dividend on an annualized basis and a yield of 4.4%. Brookfield Asset Management’s dividend payout ratio (DPR) is 116.86%.

Analyst Ratings Changes

BAM has been the subject of several research analyst reports. Scotia boosted their price objective on Brookfield Asset Management from $57.00 to $59.00 and gave the company a “sector outperform” rating in a research report on Thursday, August 6th. Piper Sandler restated a “neutral” rating and set a $50.00 target price (down from $53.00) on shares of Brookfield Asset Management in a report on Friday, September 18th. Morgan Stanley set a $54.00 target price on shares of Brookfield Asset Management in a report on Friday. Scotiabank reaffirmed an “outperform” rating and issued a $59.00 price target on shares of Brookfield Asset Management in a research note on Thursday, August 6th. Finally, Bank of America reduced their price target on shares of Brookfield Asset Management from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.09.

About Brookfield Asset Management

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset management company that provides investment management services and strategies for institutional investors, governments, financial institutions and private wealth clients. The company invests in and manages assets on behalf of its clients across a range of private-market sectors.

Its principal investment strategies include renewable power and energy transition, infrastructure, private equity, real estate and credit.