Greenland Capital Management LP Sells 19,311 Shares of Brookfield Asset Management Ltd. $BAM

Greenland Capital Management LP trimmed its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 35.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,487 shares of the financial services provider’s stock after selling 19,311 shares during the quarter. Greenland Capital Management LP’s holdings in Brookfield Asset Management were worth $2,021,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Cumberland Partners Ltd grew its stake in Brookfield Asset Management by 78.0% during the third quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider’s stock valued at $7,168,000 after acquiring an additional 55,225 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 valued at $991,677,000 after purchasing an additional 253,789 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of Brookfield Asset Management by 18.5% during the third quarter. New York State Common Retirement Fund now owns 465,600 shares of the financial services provider’s stock valued at $26,511,000 after purchasing an additional 72,600 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Brookfield Asset Management by 65.6% in the third quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider’s stock worth $14,463,000 after purchasing an additional 100,713 shares during the last quarter. Finally, Intact Investment Management Inc. lifted its position in shares of Brookfield Asset Management by 127.5% in the third quarter. Intact Investment Management Inc. now owns 590,560 shares of the financial services provider’s stock worth $33,612,000 after buying an additional 330,970 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $47.96 on Tuesday. The firm has a market capitalization of $78.56 billion, a PE ratio of 31.55, a PEG ratio of 1.84 and a beta of 1.40. The stock’s fifty day moving average is $51.99 and its 200 day moving average is $54.72. Brookfield Asset Management Ltd. has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. On average, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be given a $0.5025 dividend. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.01 dividend on an annualized basis and a yield of 4.2%. Brookfield Asset Management’s dividend payout ratio is currently 132.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group set a $52.00 price target on Brookfield Asset Management in a report on Friday. The Goldman Sachs Group lowered their target price on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods cut their target price on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a report on Monday, November 10th. Loop Capital set a $60.00 price target on shares of Brookfield Asset Management in a research note on Tuesday, January 6th. Finally, Morgan Stanley set a $63.00 price objective on shares of Brookfield Asset Management in a research report on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.65.

Brookfield Asset Management Company 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.