Baskin Financial Services Inc. Decreases Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Baskin Financial Services Inc. trimmed its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 287,536 shares of the financial services provider’s stock after selling 903 shares during the quarter. Brookfield Asset Management accounts for about 1.2% of Baskin Financial Services Inc.’s holdings, making the stock its 28th biggest holding. Baskin Financial Services Inc. owned approximately 0.06% of Brookfield Asset Management worth $15,585,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Mediolanum International Funds Ltd purchased a new stake in Brookfield Asset Management during the fourth quarter valued at about $477,000. SOL Capital Management CO boosted its holdings in Brookfield Asset Management by 5.6% during the 4th quarter. SOL Capital Management CO now owns 31,616 shares of the financial services provider’s stock valued at $1,713,000 after acquiring an additional 1,673 shares during the period. Foundations Investment Advisors LLC increased its stake in Brookfield Asset Management by 75.1% in the 4th quarter. Foundations Investment Advisors LLC now owns 11,650 shares of the financial services provider’s stock worth $631,000 after purchasing an additional 4,996 shares during the period. Grimes & Company Inc. purchased a new stake in shares of Brookfield Asset Management during the fourth quarter valued at approximately $203,000. Finally, Geneos Wealth Management Inc. bought a new stake in Brookfield Asset Management during the 4th quarter valued at $195,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 1.4 %

Shares of BAM opened at $59.94 on Monday. The stock has a market cap of $26.56 billion, a P/E ratio of 53.04, a P/E/G ratio of 2.32 and a beta of 1.45. The business’s 50 day moving average price is $56.41 and its 200-day moving average price is $50.02. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results 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 analysts’ expectations 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 period in the prior year, the firm posted $0.35 earnings per share. On average, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BAM shares. UBS Group assumed coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating for the company. Scotiabank lifted their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods decreased their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a report on Monday, January 13th. Royal Bank of Canada lifted their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, 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 report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $56.13.

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.