Brookfield Asset Management Ltd. $BAM Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. decreased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,454,858 shares of the financial services provider’s stock after selling 31,228 shares during the period. TD Waterhouse Canada Inc. owned 0.09% of Brookfield Asset Management worth $81,384,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BAM. Intact Investment Management Inc. increased its holdings in shares of Brookfield Asset Management by 127.5% during the 3rd quarter. Intact Investment Management Inc. now owns 590,560 shares of the financial services provider’s stock valued at $33,612,000 after acquiring an additional 330,970 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Brookfield Asset Management by 1.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 430,081 shares of the financial services provider’s stock valued at $23,774,000 after buying an additional 6,728 shares during the last quarter. Legal & General Group Plc raised its holdings in Brookfield Asset Management by 144.5% in the 2nd quarter. Legal & General Group Plc now owns 80,632 shares of the financial services provider’s stock worth $4,456,000 after acquiring an additional 47,659 shares during the period. Nicola Wealth Management LTD. boosted its holdings in Brookfield Asset Management by 115.4% during the third quarter. Nicola Wealth Management LTD. now owns 216,558 shares of the financial services provider’s stock valued at $12,325,000 after acquiring an additional 116,000 shares during the period. Finally, Avior Wealth Management LLC grew its position in shares of Brookfield Asset Management by 2,106.9% in the second quarter. Avior Wealth Management LLC now owns 7,724 shares of the financial services provider’s stock valued at $427,000 after purchasing an additional 7,374 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. National Bankshares reduced their price objective on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a research report on Monday, October 27th. Scotiabank reduced their price target on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating for the company in a report on Monday, November 10th. Keefe, Bruyette & Woods dropped their price objective on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating on the stock in a report on Monday, November 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a research report on Monday, December 22nd. Finally, The Goldman Sachs Group lowered their price target on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.38.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $51.37 on Thursday. The stock’s fifty day moving average is $52.67 and its 200-day moving average is $56.07. 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 Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. The stock has a market capitalization of $84.14 billion, a PE ratio of 32.11, a PEG ratio of 2.22 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results 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. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th were given a dividend of $0.4375 per share. The ex-dividend date was Friday, November 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.4%. Brookfield Asset Management’s dividend payout ratio is presently 109.38%.

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.