Commonwealth Equity Services LLC Cuts Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Commonwealth Equity Services LLC lowered its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,352 shares of the financial services provider’s stock after selling 576 shares during the period. Commonwealth Equity Services LLC’s holdings in Brookfield Asset Management were worth $1,117,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. YHB Investment Advisors Inc. bought a new stake in shares of Brookfield Asset Management during the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV raised its position in Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after buying an additional 385 shares during the last quarter. Continuum Advisory LLC boosted 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 valued at $30,000 after acquiring an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of 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 acquiring an additional 758 shares during the period. Finally, WASHINGTON TRUST Co raised its holdings in shares of Brookfield Asset Management by 151.3% during the second 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 last quarter. Institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BAM has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted their price target on Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Bank of America increased their price objective 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, September 12th. Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 target price for the company. Finally, CIBC lifted their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research note on Friday, July 19th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Hold” and an average target price of $43.81.

Brookfield Asset Management Stock Up 0.8 %

BAM stock opened at $45.21 on Tuesday. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $45.42. The stock has a market capitalization of $20.07 billion, a price-to-earnings ratio of 41.86, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. The firm’s fifty day simple moving average is $41.25 and its two-hundred day simple moving average is $40.31.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $916.00 million during the quarter, compared to the consensus estimate 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 previous year, the business earned $0.28 EPS. As a group, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.42 EPS 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. Stockholders of record on Friday, August 30th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.36%. 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.