Culbertson A N & Co. Inc. Sells 917 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Culbertson A N & Co. Inc. decreased its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,105 shares of the financial services provider’s stock after selling 917 shares during the period. Culbertson A N & Co. Inc.’s holdings in Brookfield Asset Management were worth $667,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Bank of Nova Scotia Trust Co. grew its position 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 in the last quarter. CWM LLC increased its position in shares of Brookfield Asset Management by 12.2% during the second quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock valued at $93,000 after buying an additional 267 shares during the period. Choate Investment Advisors lifted its holdings in shares of 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 worth $374,000 after buying an additional 285 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of 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 during the period. Finally, Adalta Capital Management LLC boosted its position in shares of 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 during the period. Institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

BAM has been the topic of a number of analyst reports. Bank of America upped 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. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Jefferies Financial Group began coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They set a “hold” rating and a $43.00 target price for the company. CIBC raised their price target on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company lifted their price target on Brookfield Asset Management from $42.00 to $48.00 and gave the company an “underweight” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.41.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $50.30 on Thursday. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $50.44. The business has a 50 day moving average of $44.06 and a 200 day moving average of $41.21. The company has a market capitalization of $22.32 billion, a price-to-earnings ratio of 46.57, a PEG ratio of 2.26 and a beta of 1.56.

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 analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same period last year, the company posted $0.28 EPS. As a group, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.43 EPS 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 issued a $0.38 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 3.02%. 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.