Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC cut its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,635 shares of the financial services provider’s stock after selling 1,623 shares during the quarter. Janus Henderson Group PLC’s holdings in Brookfield Asset Management were worth $4,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Advisors LLC purchased a new stake in Brookfield Asset Management during the first quarter worth $209,000. CWM LLC boosted its stake in shares of Brookfield Asset Management by 12.2% during the 2nd quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 267 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Brookfield Asset Management by 330.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 37,925 shares of the financial services provider’s stock valued at $1,443,000 after acquiring an additional 29,111 shares during the period. AlphaMark Advisors LLC purchased a new position in shares of Brookfield Asset Management in the 2nd quarter valued at about $302,000. Finally, Continuum Advisory LLC raised its holdings in Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 285 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

BAM opened at $57.25 on Wednesday. The firm has a market capitalization of $24.02 billion, a price-to-earnings ratio of 50.66, a price-to-earnings-growth ratio of 2.37 and a beta of 1.41. The company’s 50 day simple moving average is $53.47 and its two-hundred day simple moving average is $45.34. Brookfield Asset Management Ltd. has a 1-year low of $35.65 and a 1-year high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $1.12 billion for 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 quarter last year, the business posted $0.35 earnings per share. On average, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

Analysts Set New Price Targets

Several analysts have commented on BAM shares. BMO Capital Markets raised their price objective 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. Bank of America lifted their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. TD Securities upped their price objective 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. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $53.46.

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.