1832 Asset Management L.P. Decreases Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

1832 Asset Management L.P. trimmed its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 647,575 shares of the financial services provider’s stock after selling 13,897 shares during the period. 1832 Asset Management L.P. owned approximately 0.15% of Brookfield Asset Management worth $27,211,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. NBC Securities Inc. grew its position in Brookfield Asset Management by 4.7% during the fourth quarter. NBC Securities Inc. now owns 6,139 shares of the financial services provider’s stock valued at $246,000 after buying an additional 277 shares during the period. Choate Investment Advisors grew its position in Brookfield Asset Management by 3.3% during the first quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock valued at $374,000 after buying an additional 285 shares during the period. Jackson Hole Capital Partners LLC grew its position in Brookfield Asset Management by 3.1% during the fourth quarter. Jackson Hole Capital Partners LLC now owns 9,770 shares of the financial services provider’s stock valued at $392,000 after buying an additional 291 shares during the period. Tritonpoint Wealth LLC grew its position in Brookfield Asset Management by 0.4% during the first quarter. Tritonpoint Wealth LLC now owns 78,194 shares of the financial services provider’s stock valued at $3,038,000 after buying an additional 321 shares during the period. Finally, Quent Capital LLC boosted its position in shares of Brookfield Asset Management by 62.4% in the first quarter. Quent Capital LLC now owns 1,132 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 435 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Shares of BAM traded up $0.64 during mid-day trading on Friday, hitting $42.10. 633,641 shares of the company’s stock were exchanged, compared to its average volume of 780,473. The company has a market cap of $18.68 billion, a price-to-earnings ratio of 38.98, a P/E/G ratio of 1.96 and a beta of 1.62. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $43.00. The stock’s 50-day moving average is $39.36 and its 200-day moving average is $39.98.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $884.00 million for the quarter. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. As a group, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.52 annualized dividend and a yield of 3.61%. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BAM shares. JPMorgan Chase & Co. started coverage on shares of Brookfield Asset Management in a research report on Wednesday, May 15th. They issued a “neutral” rating and a $41.00 price target for the company. Royal Bank of Canada upped their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Scotiabank dropped their target price on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a research report on Thursday, May 9th. Finally, CIBC upped their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.32.

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.