Marks Group Wealth Management Inc Reduces Holdings in Brookfield Asset Management Ltd. $BAM

Marks Group Wealth Management Inc reduced its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 29.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,825 shares of the financial services provider’s stock after selling 35,486 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Brookfield Asset Management were worth $3,726,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BAM. Zions Bancorporation National Association UT grew its holdings in shares of Brookfield Asset Management by 241.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after buying an additional 345 shares in the last quarter. LOM Asset Management Ltd purchased a new position in shares of Brookfield Asset Management in the fourth quarter worth about $31,000. eCIO Inc. purchased a new position in shares of Brookfield Asset Management in the fourth quarter worth about $42,000. Allworth Financial LP boosted its position in Brookfield Asset Management by 47.8% during the fourth quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 333 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in Brookfield Asset Management by 709.8% during the fourth quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 937 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $49.07 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The firm’s 50-day moving average is $47.22 and its two-hundred day moving average is $48.12. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $64.10. The company has a market capitalization of $80.39 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 1.96 and a beta of 1.29.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. Analysts predict that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were given a $0.5025 dividend. This represents a $2.01 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, May 29th. Brookfield Asset Management’s dividend payout ratio is presently 130.52%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BAM shares. Wall Street Zen downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Morgan Stanley lowered their target price on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Weiss Ratings cut Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. Royal Bank Of Canada reduced their price objective on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and an average target price of $60.41.

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.