Cumberland Partners Ltd Decreases Stake in Brookfield Asset Management Ltd. $BAM

Cumberland Partners Ltd lowered its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 21.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,515 shares of the financial services provider’s stock after selling 27,500 shares during the quarter. Cumberland Partners Ltd’s holdings in Brookfield Asset Management were worth $5,166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Truist Financial Corp raised its stake in shares of Brookfield Asset Management by 1.4% during the 3rd quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock worth $754,000 after buying an additional 187 shares during the last quarter. Focus Financial Network Inc. raised its position in shares of Brookfield Asset Management by 4.6% during the 4th quarter. Focus Financial Network Inc. now owns 4,436 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 194 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in Brookfield Asset Management by 38.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock valued at $48,000 after buying an additional 233 shares in the last quarter. Kraematon Investment Advisors Inc. grew its holdings in Brookfield Asset Management by 2.0% during the 4th quarter. Kraematon Investment Advisors Inc. now owns 12,073 shares of the financial services provider’s stock valued at $632,000 after buying an additional 234 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its holdings in Brookfield Asset Management by 3.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,578 shares of the financial services provider’s stock valued at $431,000 after buying an additional 238 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BAM shares. Wall Street Zen cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Zacks Research cut Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. Scotiabank restated an “outperform” rating and issued a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a report on Monday, May 11th. BMO Capital Markets upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Morgan Stanley reduced their target price on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.21.

Brookfield Asset Management Stock Down 1.2%

Shares of NYSE:BAM opened at $47.96 on Friday. The stock’s 50-day moving average price is $46.27 and its two-hundred day moving average price is $49.70. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. Brookfield Asset Management Ltd. has a 12-month low of $42.20 and a 12-month high of $64.10. The firm has a market cap of $78.56 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 1.97 and a beta of 1.28.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.43 billion. On average, research analysts forecast that Brookfield Asset Management Ltd. will post 1.74 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be paid a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 130.52%.

Brookfield Asset Management 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.