Royal London Asset Management Ltd. Sells 5,939 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Royal London Asset Management Ltd. lowered its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 144,774 shares of the financial services provider’s stock after selling 5,939 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Brookfield Asset Management were worth $6,846,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its position in Brookfield Asset Management by 797.2% in the 1st quarter. Cetera Investment Advisers now owns 74,791 shares of the financial services provider’s stock valued at $3,145,000 after buying an additional 66,455 shares during the last quarter. Cetera Advisors LLC bought a new position in Brookfield Asset Management in the first quarter valued at about $209,000. CWM LLC increased its position in Brookfield Asset Management by 12.2% in the second quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 267 shares during the period. Gateway Investment Advisers LLC bought a new stake in Brookfield Asset Management during the 2nd quarter worth about $475,000. Finally, WASHINGTON TRUST Co lifted its position in Brookfield Asset Management by 151.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 640 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. The Goldman Sachs Group boosted their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods lifted their target price on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a report on Tuesday, November 5th. Finally, Scotiabank increased their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Brookfield Asset Management presently has a consensus rating of “Hold” and an average target price of $53.46.

Brookfield Asset Management Stock Down 0.4 %

NYSE BAM opened at $57.55 on Monday. The firm’s 50 day moving average is $53.27 and its 200-day moving average is $45.21. The company has a market capitalization of $24.15 billion, a PE ratio of 50.93, a price-to-earnings-growth ratio of 2.36 and a beta of 1.41. Brookfield Asset Management Ltd. has a 12-month low of $35.46 and a 12-month high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business earned $0.35 EPS. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.38 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.64%. Brookfield Asset Management’s dividend payout ratio is 134.51%.

Brookfield Asset Management 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.