Public Sector Pension Investment Board Lowers Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Public Sector Pension Investment Board decreased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,325 shares of the financial services provider’s stock after selling 801 shares during the quarter. Public Sector Pension Investment Board’s holdings in Brookfield Asset Management were worth $1,763,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of Nova Scotia Trust Co. boosted its stake in shares of Brookfield Asset Management by 4.4% in the first quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 263 shares during the period. CWM LLC raised its holdings in Brookfield Asset Management by 12.2% in the second quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 267 shares in the last quarter. Choate Investment Advisors raised its holdings in Brookfield Asset Management by 3.3% in the first quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 285 shares in the last quarter. Continuum Advisory LLC raised its holdings in Brookfield Asset Management by 57.6% in the second 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 in the last quarter. Finally, Adalta Capital Management LLC raised its holdings in Brookfield Asset Management by 0.8% in the first quarter. Adalta Capital Management LLC now owns 43,494 shares of the financial services provider’s stock valued at $1,828,000 after acquiring an additional 366 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 0.1 %

NYSE:BAM opened at $47.29 on Tuesday. The company has a market capitalization of $20.98 billion, a PE ratio of 43.78, a price-to-earnings-growth 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 $48.03. The stock has a fifty day simple moving average of $42.46 and a 200-day simple moving average of $40.66.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The firm had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm posted $0.28 EPS. As a group, equities 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 disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid 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 of this dividend was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

Analyst Ratings Changes

A number of research firms have weighed in on BAM. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Bank of America raised their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Wells Fargo & Company assumed coverage on shares of Brookfield Asset Management in a research report on Thursday, September 12th. They set an “underweight” rating and a $42.00 target price on the stock. Jefferies Financial Group assumed 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 on the stock. Finally, Scotiabank lowered 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 research report on Thursday, August 8th. 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 stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and an average price target 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.