Brookfield Asset Management Ltd. $BAM Holdings Decreased by Markel Group Inc.

Markel Group Inc. cut its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,173,953 shares of the financial services provider’s stock after selling 20,000 shares during the period. Markel Group Inc. owned approximately 0.13% of Brookfield Asset Management worth $96,915,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Trust Co. of Vermont bought a new stake in shares of Brookfield Asset Management in the 2nd quarter valued at $25,000. Alpine Bank Wealth Management acquired a new position in shares of Brookfield Asset Management during the 3rd quarter valued at $26,000. Compass Financial Management LLC bought a new position in Brookfield Asset Management during the second quarter worth $27,000. Allied Private Wealth LLC bought a new position in Brookfield Asset Management during the second quarter worth $40,000. Finally, Root Financial Partners LLC acquired a new stake in Brookfield Asset Management in the third quarter worth $50,000. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Price Performance

Shares of BAM opened at $50.91 on Wednesday. The business’s fifty day moving average is $47.12 and its 200 day moving average is $47.84. Brookfield Asset Management Ltd. has a 12-month low of $42.20 and a 12-month high of $55.97. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $83.41 billion, a P/E ratio of 29.58, a P/E/G ratio of 2.17 and a beta of 1.27.

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

Analysts Set New Price Targets

BAM has been the subject of several research analyst reports. Scotia lifted their price target on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the company a “sector outperform” rating in a research note on Thursday, August 6th. Wells Fargo & Company began coverage on shares of Brookfield Asset Management in a research report on Friday, October 2nd. They set an “overweight” rating and a $41.00 price objective on the stock. Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. National Bank Financial raised their target price on Brookfield Asset Management from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Piper Sandler set a $49.00 target price on Brookfield Asset Management and gave the company a “neutral” rating in a research report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.03.

About Brookfield Asset Management

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.