Mufg Securities Canada LTD. Sells 49,733 Shares of Brookfield Asset Management Ltd. $BAM

Mufg Securities Canada LTD. decreased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 573,553 shares of the financial services provider’s stock after selling 49,733 shares during the period. Mufg Securities Canada LTD.’s holdings in Brookfield Asset Management were worth $30,052,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its position in Brookfield Asset Management by 72.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider’s stock worth $222,161,000 after buying an additional 1,642,375 shares during the period. Vanguard Group Inc. increased its position in Brookfield Asset Management by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock worth $991,677,000 after buying an additional 253,789 shares during the period. Cumberland Partners Ltd increased its position in Brookfield Asset Management by 78.0% during the 3rd quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider’s stock worth $7,168,000 after buying an additional 55,225 shares during the period. Hillsdale Investment Management Inc. increased its position in Brookfield Asset Management by 65.6% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider’s stock worth $14,463,000 after buying an additional 100,713 shares during the period. Finally, Fiera Capital Corp increased its position in Brookfield Asset Management by 21.7% during the 3rd quarter. Fiera Capital Corp now owns 184,728 shares of the financial services provider’s stock worth $10,509,000 after buying an additional 32,923 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

BAM opened at $47.09 on Monday. The firm has a market cap of $77.14 billion, a P/E ratio of 30.58, a price-to-earnings-growth ratio of 1.89 and a beta of 1.26. Brookfield Asset Management Ltd. has a 52-week low of $42.20 and a 52-week high of $64.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. The business’s fifty day moving average is $47.42 and its 200-day moving average is $49.17.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. Sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.75 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.5025 per share. The ex-dividend date is Friday, May 29th. This represents a $2.01 annualized dividend and a yield of 4.3%. Brookfield Asset Management’s dividend payout ratio is presently 130.52%.

Analysts Set New Price Targets

Several research analysts have weighed in on BAM shares. Morgan Stanley lowered their price objective on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. UBS Group set a $52.00 price objective on Brookfield Asset Management in a research report on Friday, February 20th. Piper Sandler reiterated a “neutral” rating and set a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. Weiss Ratings cut Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. Finally, Wall Street Zen cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.21.

Brookfield Asset Management Profile

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.