Wellington Management Group LLP Decreases Stock Position in Brookfield Asset Management Ltd. $BAM

Wellington Management Group LLP decreased its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 6.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. TD Asset Management Inc boosted its stake in shares of Brookfield Asset Management by 2.0% in the fourth quarter. TD Asset Management Inc now owns 15,769,066 shares of the financial services provider’s stock valued at $827,135,000 after purchasing an additional 315,036 shares during the period. Principal Financial Group Inc. increased its stake in Brookfield Asset Management by 62.0% during the 1st quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider’s stock worth $566,092,000 after buying an additional 4,872,090 shares during the period. The Manufacturers Life Insurance Company increased its stake in Brookfield Asset Management by 15.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,319,506 shares of the financial services provider’s stock worth $236,308,000 after buying an additional 716,892 shares during the period. Norges Bank acquired a new position in Brookfield Asset Management in the 4th quarter worth $263,444,000. Finally, CIBC Asset Management Inc boosted its position in Brookfield Asset Management by 99.1% in the 4th quarter. CIBC Asset Management Inc now owns 4,853,861 shares of the financial services provider’s stock valued at $255,449,000 after buying an additional 2,415,593 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BAM shares. Scotiabank restated an “outperform” rating and set a $59.00 target price on shares of Brookfield Asset Management in a research note on Thursday, August 6th. Canadian Imperial Bank of Commerce set a $62.50 price target on Brookfield Asset Management in a research note on Monday, May 11th. UBS Group raised their price objective on Brookfield Asset Management from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. National Bank Financial raised their price objective 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, Weiss Ratings restated a “hold (c+)” rating on shares of Brookfield Asset Management in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.65.

Brookfield Asset Management Stock Performance

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

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share 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 analyst estimates of $1.47 billion. Equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.77 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

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

About Brookfield Asset Management

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.