Crossmark Global Holdings Inc. Sells 5,693 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Crossmark Global Holdings Inc. lessened its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 16.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,474 shares of the financial services provider’s stock after selling 5,693 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Brookfield Asset Management were worth $1,122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Partners Value Investments L.P. boosted its stake in shares of Brookfield Asset Management by 0.9% in the 4th quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock valued at $1,237,556,000 after purchasing an additional 280,098 shares in the last quarter. Capital World Investors boosted its stake in shares of Brookfield Asset Management by 10.0% in the 4th quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock valued at $986,656,000 after purchasing an additional 2,241,372 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Brookfield Asset Management by 8.6% in the 1st quarter. TD Asset Management Inc now owns 12,486,721 shares of the financial services provider’s stock valued at $525,028,000 after purchasing an additional 988,538 shares in the last quarter. FIL Ltd boosted its stake in shares of Brookfield Asset Management by 66.1% in the 4th quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock valued at $454,424,000 after purchasing an additional 4,501,410 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Brookfield Asset Management by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock valued at $452,153,000 after purchasing an additional 186,765 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $40.75 on Friday. The business has a 50 day simple moving average of $40.26 and a 200 day simple moving average of $40.18. Brookfield Asset Management Ltd. has a 52-week low of $28.35 and a 52-week high of $44.38. The stock has a market cap of $18.08 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 1.95 and a beta of 1.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The business had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted $0.28 earnings per share. On average, analysts predict that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 3.73%. Brookfield Asset Management’s payout ratio is 140.74%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BAM. JPMorgan Chase & Co. reduced their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Scotiabank reduced their price target on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a research report on Thursday, August 8th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. TD Securities upped their price target on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Finally, CIBC boosted their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Brookfield Asset Management currently has an average rating of “Hold” and an average price target of $42.46.

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.