Hsbc Holdings PLC Cuts Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Hsbc Holdings PLC cut its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 98.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,869 shares of the financial services provider’s stock after selling 426,937 shares during the quarter. Hsbc Holdings PLC’s holdings in Brookfield Asset Management were worth $263,000 at the end of the most recent quarter.

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

Brookfield Asset Management Stock Down 0.7 %

Shares of Brookfield Asset Management stock opened at $47.41 on Friday. The firm has a market capitalization of $21.04 billion, a P/E ratio of 43.89, a PEG ratio of 2.36 and a beta of 1.56. Brookfield Asset Management Ltd. has a 52 week low of $28.35 and a 52 week high of $48.15. The company has a 50 day moving average price of $42.82 and a 200 day moving average price of $40.80.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly 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). The company 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 in the prior year, the business posted $0.28 EPS. As a group, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.42 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

Wall Street Analysts Forecast Growth

BAM has been the topic of several research analyst reports. Scotiabank lowered their target price 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. Jefferies Financial Group started coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They issued a “hold” rating and a $43.00 price objective for the company. Wells Fargo & Company assumed coverage on Brookfield Asset Management in a report on Thursday, September 12th. They set an “underweight” rating and a $42.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their target price on Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.19.

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.