Barclays PLC Lowers Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Barclays PLC lowered its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 24.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,003 shares of the financial services provider’s stock after selling 662 shares during the period. Barclays PLC’s holdings in Brookfield Asset Management were worth $95,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its position in Brookfield Asset Management by 19.5% during the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after buying an additional 2,205,040 shares during the period. Bank of Montreal Can lifted its position in Brookfield Asset Management by 0.5% during the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock valued at $435,729,000 after buying an additional 43,134 shares during the period. Principal Financial Group Inc. lifted its position in Brookfield Asset Management by 0.3% during the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after buying an additional 24,409 shares during the period. The Manufacturers Life Insurance Company lifted its position in Brookfield Asset Management by 68.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after buying an additional 2,788,611 shares during the period. Finally, CIBC Asset Management Inc lifted its position in Brookfield Asset Management by 10.3% during the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after buying an additional 370,383 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BAM shares. TD Securities raised their price target on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company raised their price target on Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a report on Thursday, December 12th. BMO Capital Markets raised their price target on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Keefe, Bruyette & Woods raised their price target on Brookfield Asset Management from $49.00 to $57.00 and gave the company an “underperform” rating in a report on Friday, December 20th. Finally, UBS Group started coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Brookfield Asset Management has an average rating of “Hold” and an average price target of $54.54.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $55.70 on Thursday. Brookfield Asset Management Ltd. has a one year low of $37.19 and a one year high of $59.58. The stock has a 50-day moving average of $55.98 and a 200 day moving average of $47.89. The company has a market capitalization of $24.68 billion, a price-to-earnings ratio of 49.29, a PEG ratio of 2.43 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same period in the previous year, the company posted $0.35 EPS. On average, equities analysts predict that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.73%. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

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.