Brookfield Asset Management Ltd. $BAM Stock Holdings Lessened by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 6.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 233,092 shares of the financial services provider’s stock after selling 15,610 shares during the quarter. Wellington Management Group LLP’s holdings in Brookfield Asset Management were worth $10,454,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Crescent Grove Advisors LLC lifted its holdings in Brookfield Asset Management by 4.3% in the 4th quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 200 shares during the last quarter. Kestra Advisory Services LLC boosted its position in Brookfield Asset Management by 3.6% during the fourth quarter. Kestra Advisory Services LLC now owns 6,301 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 218 shares during the period. Foundations Investment Advisors LLC grew its holdings in Brookfield Asset Management by 1.3% during the fourth quarter. Foundations Investment Advisors LLC now owns 17,165 shares of the financial services provider’s stock valued at $899,000 after purchasing an additional 226 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in Brookfield Asset Management by 3.2% during the third quarter. Integrated Wealth Concepts LLC now owns 7,578 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 238 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its position in shares of Brookfield Asset Management by 29.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,096 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Canadian Imperial Bank of Commerce set a $62.50 price objective on shares of Brookfield Asset Management in a research note on Monday, May 11th. National Bank Financial lifted their target price on shares of Brookfield Asset Management from $69.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Royal Bank Of Canada cut their target price on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Piper Sandler reissued 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $58.65.

Brookfield Asset Management Stock Down 0.1%

BAM stock opened at $50.57 on Tuesday. Brookfield Asset Management Ltd. has a twelve month low of $42.20 and a twelve month high of $62.57. The company has a market cap of $82.84 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 2.07 and a beta of 1.27. The business’s 50-day simple moving average is $49.69 and its 200 day simple moving average is $47.78. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%.The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.47 billion. On average, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.77 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a dividend of $0.5025 per share. The ex-dividend date is Monday, August 31st. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.0%. Brookfield Asset Management’s payout ratio is currently 116.86%.

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.