State Street Corp Lowers Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

State Street Corp lessened its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,418 shares of the financial services provider’s stock after selling 1,755 shares during the quarter. State Street Corp’s holdings in Brookfield Asset Management were worth $1,580,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hara Capital LLC bought a new stake in shares of Brookfield Asset Management in the 3rd quarter worth approximately $27,000. RPg Family Wealth Advisory LLC purchased a new position in Brookfield Asset Management during the third quarter valued at $27,000. Richardson Financial Services Inc. boosted its holdings in Brookfield Asset Management by 368.3% in the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 755 shares in the last quarter. Legacy Bridge LLC purchased a new stake in shares of Brookfield Asset Management in the second quarter worth $52,000. Finally, Quent Capital LLC increased its holdings in shares of Brookfield Asset Management by 62.1% during the third quarter. Quent Capital LLC now owns 1,135 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 435 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price target on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Bank of America raised their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. TD Securities upped their price target on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their target price on Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and an average target price of $54.54.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $54.19 on Thursday. The firm has a market capitalization of $24.01 billion, a PE ratio of 47.96, a PEG ratio of 2.43 and a beta of 1.41. The stock’s fifty day moving average is $55.83 and its 200 day moving average is $47.31. Brookfield Asset Management Ltd. has a fifty-two week low of $37.19 and a fifty-two week high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Equities analysts forecast that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.80%. The ex-dividend date was Friday, November 29th. Brookfield Asset Management’s payout ratio is currently 134.51%.

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.