Forsta AP Fonden Reduces Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Forsta AP Fonden reduced its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 8.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 213,400 shares of the financial services provider’s stock after selling 18,500 shares during the quarter. Forsta AP Fonden’s holdings in Brookfield Asset Management were worth $8,122,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. YHB Investment Advisors Inc. purchased a new position in shares of Brookfield Asset Management during the first quarter valued at about $26,000. Massmutual Trust Co. FSB ADV boosted its position in Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 385 shares in the last quarter. Continuum Advisory LLC grew its holdings in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 758 shares in the last quarter. Finally, WASHINGTON TRUST Co lifted its stake in shares of Brookfield Asset Management by 151.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 640 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BAM has been the topic of several recent research reports. BMO Capital Markets upped their price target on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday. Bank of America increased their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday. Scotiabank cut their price objective on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a report on Thursday, August 8th. CIBC lifted their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a report on Friday, July 19th. Finally, StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $43.81.

Brookfield Asset Management Price Performance

BAM stock opened at $44.85 on Friday. The stock has a market capitalization of $19.91 billion, a P/E ratio of 41.53, a P/E/G ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $45.24. The business has a fifty day moving average price of $41.11 and a 200-day moving average price of $40.29.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same period last year, the firm posted $0.28 EPS. As a group, analysts anticipate that Brookfield Asset Management Ltd. will post 1.42 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

Brookfield Asset Management Company 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.