Mutual Advisors LLC Sells 912 Shares of Brookfield Asset Management Ltd. $BAM

Mutual Advisors LLC decreased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,438 shares of the financial services provider’s stock after selling 912 shares during the quarter. Mutual Advisors LLC’s holdings in Brookfield Asset Management were worth $466,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Kirr Marbach & Co. LLC IN raised its holdings in Brookfield Asset Management by 0.6% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider’s stock worth $1,715,000 after purchasing an additional 203 shares during the last quarter. Lincoln Capital LLC raised its holdings in Brookfield Asset Management by 0.9% during the 1st quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider’s stock worth $1,145,000 after purchasing an additional 210 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Brookfield Asset Management by 17.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,015 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 299 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Brookfield Asset Management by 3.2% during the 1st quarter. Advisors Asset Management Inc. now owns 10,171 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 314 shares during the last quarter. Finally, Truvestments Capital LLC raised its holdings in Brookfield Asset Management by 85.5% during the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 432 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $54.16 on Monday. The firm has a market capitalization of $88.71 billion, a PE ratio of 36.35, a price-to-earnings-growth ratio of 2.02 and a beta of 1.39. The firm has a fifty day simple moving average of $58.69 and a two-hundred day simple moving average of $56.59. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. Analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, August 29th. Brookfield Asset Management’s payout ratio is 117.45%.

Analyst Upgrades and Downgrades

BAM has been the subject of several research analyst reports. CIBC lifted their price objective on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Scotiabank lifted their price objective on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the company a “sector outperform” rating in a research note on Thursday, August 7th. Piper Sandler lowered their price objective on shares of Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Wells Fargo & Company lifted their price objective on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the company an “underweight” rating in a research note on Friday, July 11th. Finally, Royal Bank Of Canada lifted their price objective on shares of Brookfield Asset Management from $74.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.27.

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.