Cortland Associates Inc. MO Trims Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Cortland Associates Inc. MO decreased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 565,620 shares of the financial services provider’s stock after selling 9,156 shares during the period. Brookfield Asset Management accounts for approximately 3.5% of Cortland Associates Inc. MO’s portfolio, making the stock its 13th largest holding. Cortland Associates Inc. MO owned approximately 0.13% of Brookfield Asset Management worth $30,651,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Bank of Montreal Can increased its position in shares of Brookfield Asset Management by 0.5% in the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock worth $435,729,000 after acquiring an additional 43,134 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Brookfield Asset Management by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after purchasing an additional 24,409 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Brookfield Asset Management by 10.3% during the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after purchasing an additional 370,383 shares in the last quarter. Douglass Winthrop Advisors LLC grew its holdings in Brookfield Asset Management by 3.9% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock valued at $126,287,000 after purchasing an additional 99,020 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Brookfield Asset Management by 66.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock valued at $92,896,000 after purchasing an additional 784,250 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on BAM. BMO Capital Markets raised their price objective on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group raised their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada raised their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods reduced their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday, January 13th. Finally, StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $54.38.

Brookfield Asset Management Trading Up 0.4 %

BAM stock opened at $61.33 on Thursday. The firm’s 50-day moving average is $56.09 and its two-hundred day moving average is $49.68. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $61.51. The company has a market capitalization of $27.18 billion, a price-to-earnings ratio of 54.27, a price-to-earnings-growth ratio of 2.15 and a beta of 1.45.

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. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm earned $0.35 EPS. On average, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.48%. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

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.