Brookfield Asset Management Ltd. $BAM Shares Sold by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc lessened its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 17.5% in the second quarter, HoldingsChannel.com reports. The firm owned 7,959 shares of the financial services provider’s stock after selling 1,690 shares during the period. K.J. Harrison & Partners Inc’s holdings in Brookfield Asset Management were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. GoalVest Advisory LLC boosted its holdings in Brookfield Asset Management by 9.5% in the second quarter. GoalVest Advisory LLC now owns 2,180 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 190 shares during the period. Lincoln Capital LLC grew its holdings in shares of Brookfield Asset Management by 0.9% during the first quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider’s stock valued at $1,145,000 after purchasing an additional 210 shares during the last quarter. Kirr Marbach & Co. LLC IN grew its holdings in shares of Brookfield Asset Management by 0.7% during the second quarter. Kirr Marbach & Co. LLC IN now owns 35,649 shares of the financial services provider’s stock valued at $1,971,000 after purchasing an additional 249 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of Brookfield Asset Management by 22.5% during the second quarter. Private Trust Co. NA now owns 1,532 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 281 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Brookfield Asset Management by 17.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,015 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 299 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 0.6%

BAM opened at $54.38 on Tuesday. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $89.07 billion, a P/E ratio of 36.50, a P/E/G ratio of 2.04 and a beta of 1.39. The stock’s 50 day moving average price is $57.22 and its 200 day moving average price is $57.29.

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

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were given a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 117.45%.

Analyst Ratings Changes

Several research firms have recently commented on BAM. National Bankshares lowered their target price on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a report on Monday, October 27th. Piper Sandler lowered their target price on Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Morgan Stanley set a $62.00 target price on Brookfield Asset Management in a report on Monday, October 13th. Jefferies Financial Group upped their target price on Brookfield Asset Management from $55.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, August 13th. Finally, Royal Bank Of Canada upped their target price on Brookfield Asset Management from $74.00 to $76.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Moderate Buy” and a consensus target price of $64.14.

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.