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

TD Asset Management Inc reduced its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,454,030 shares of the financial services provider’s stock after selling 135,354 shares during the quarter. Brookfield Asset Management accounts for 0.7% of TD Asset Management Inc’s portfolio, making the stock its 29th largest position. TD Asset Management Inc owned about 0.94% of Brookfield Asset Management worth $879,660,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC increased its holdings in shares of Brookfield Asset Management by 559.5% during the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 442 shares during the period. Sagard Holdings Management Inc. bought a new position in Brookfield Asset Management in the 2nd quarter valued at about $39,000. Assetmark Inc. grew its position in Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after buying an additional 395 shares in the last quarter. GAMMA Investing LLC increased its stake in Brookfield Asset Management by 93.3% during the 3rd quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock valued at $47,000 after buying an additional 401 shares during the period. Finally, TD Private Client Wealth LLC raised its position in shares of Brookfield Asset Management by 1,123.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 832 shares of the financial services provider’s stock worth $47,000 after buying an additional 764 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $48.48 on Wednesday. The company has a market capitalization of $79.41 billion, a PE ratio of 31.89, a price-to-earnings-growth ratio of 1.75 and a beta of 1.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a fifty day moving average of $51.90 and a 200-day moving average of $54.63. Brookfield Asset Management Ltd. has a one year low of $41.78 and a one year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%.The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. As a group, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a dividend of $0.5025 per share. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, February 27th. Brookfield Asset Management’s payout ratio is currently 115.13%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BAM shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, December 22nd. The Goldman Sachs Group cut 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. Morgan Stanley set a $63.00 price target on Brookfield Asset Management in a research report on Tuesday, February 17th. Zacks Research raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Finally, UBS Group set a $52.00 target price on Brookfield Asset Management in a research note on Friday. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management presently 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.