Ossiam Decreases Stock Holdings in Brookfield Asset Management Ltd. $BAM

Ossiam lowered its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 49.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,937 shares of the financial services provider’s stock after selling 34,549 shares during the quarter. Ossiam’s holdings in Brookfield Asset Management were worth $1,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Brookfield Asset Management by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock valued at $832,833,000 after buying an additional 302,852 shares in the last quarter. TD Asset Management Inc lifted its position in Brookfield Asset Management by 1.6% during the second quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider’s stock valued at $861,101,000 after acquiring an additional 250,068 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Brookfield Asset Management by 2.5% in the second quarter. Mackenzie Financial Corp now owns 11,400,930 shares of the financial services provider’s stock valued at $631,412,000 after acquiring an additional 282,853 shares in the last quarter. Norges Bank acquired a new stake in Brookfield Asset Management in the second quarter valued at approximately $294,730,000. Finally, Geode Capital Management LLC grew its holdings in Brookfield Asset Management by 62.4% in the second quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider’s stock worth $208,571,000 after purchasing an additional 1,443,441 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BAM. Royal Bank Of Canada increased their price objective on Brookfield Asset Management from $74.00 to $76.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Keefe, Bruyette & Woods decreased their price target on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a research note on Monday, November 10th. Morgan Stanley set a $62.00 price target on Brookfield Asset Management in a research note on Monday, October 13th. Weiss Ratings restated a “buy (b)” rating on shares of Brookfield Asset Management in a report on Monday. Finally, Jefferies Financial Group lifted their target price on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.32.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $54.45 on Wednesday. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. The company has a market cap of $89.17 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 1.98 and a beta of 1.39. The company’s 50 day moving average is $53.88 and its 200 day moving average is $56.79.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.34 billion. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Asset Management’s dividend payout ratio is presently 109.38%.

Brookfield Asset Management 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.