Anchor Investment Management LLC Trims Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Anchor Investment Management LLC lessened its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 36.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,843 shares of the financial services provider’s stock after selling 1,071 shares during the quarter. Anchor Investment Management LLC’s holdings in Brookfield Asset Management were worth $70,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BAM. YHB Investment Advisors Inc. acquired a new stake in shares of Brookfield Asset Management during the first quarter worth about $26,000. Massmutual Trust Co. FSB ADV raised 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 worth $30,000 after buying an additional 385 shares during the last quarter. Continuum Advisory LLC lifted its stake in 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 period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 758 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its holdings in shares of Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 755 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $47.78 on Friday. The firm has a fifty day moving average of $42.94 and a 200 day moving average of $40.85. The firm has a market cap of $21.20 billion, a PE ratio of 44.24, a PEG ratio of 2.36 and a beta of 1.56. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $48.15.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The company had revenue of $916.00 million for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the firm earned $0.28 EPS. On average, equities analysts predict that Brookfield Asset Management Ltd. will post 1.42 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 annualized dividend and a yield of 3.18%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 140.74%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BAM shares. 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 report on Thursday, September 12th. TD Securities boosted their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. BMO Capital Markets upped their target price on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. reduced their price target on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.19.

About Brookfield Asset Management

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.