Madison Asset Management LLC Sells 126,374 Shares of Brookfield Asset Management Ltd. $BAM

Madison Asset Management LLC reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.0% during the first quarter, HoldingsChannel.com reports. The fund owned 1,675,100 shares of the financial services provider’s stock after selling 126,374 shares during the quarter. Madison Asset Management LLC’s holdings in Brookfield Asset Management were worth $74,458,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Brookfield Asset Management by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock valued at $928,414,000 after purchasing an additional 297,790 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Brookfield Asset Management by 2.0% in the fourth quarter. TD Asset Management Inc now owns 15,769,066 shares of the financial services provider’s stock worth $827,135,000 after buying an additional 315,036 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Brookfield Asset Management by 62.0% in the first quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider’s stock worth $566,092,000 after buying an additional 4,872,090 shares in the last quarter. Norges Bank bought a new position in Brookfield Asset Management during the fourth quarter valued at approximately $263,444,000. Finally, CIBC Asset Management Inc boosted its stake in Brookfield Asset Management by 99.1% during the fourth quarter. CIBC Asset Management Inc now owns 4,853,861 shares of the financial services provider’s stock valued at $255,449,000 after buying an additional 2,415,593 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Royal Bank Of Canada cut their price target on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, May 11th. Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Scotiabank reissued an “outperform” rating and issued a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a report on Monday, May 11th. Morgan Stanley cut their target price on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.41.

Brookfield Asset Management Trading Down 2.0%

Shares of BAM opened at $47.34 on Tuesday. The company’s fifty day simple moving average is $47.17 and its 200-day simple moving average is $48.02. The company has a market cap of $77.56 billion, a P/E ratio of 30.74, a P/E/G ratio of 1.99 and a beta of 1.29. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. Brookfield Asset Management Ltd. has a twelve month low of $42.20 and a twelve month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.73 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were paid a $0.5025 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.01 annualized dividend and a yield of 4.2%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 130.52%.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.