Intech Investment Management LLC Sells 20,749 Shares of Brookfield Asset Management Ltd. $BAM

Intech Investment Management LLC cut its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 53.6% during the 4th quarter, Holdings Channel reports. The firm owned 17,973 shares of the financial services provider’s stock after selling 20,749 shares during the period. Intech Investment Management LLC’s holdings in Brookfield Asset Management were worth $942,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. AQR Capital Management LLC purchased a new position in shares of Brookfield Asset Management during the first quarter valued at approximately $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Brookfield Asset Management by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock valued at $12,648,000 after buying an additional 24,013 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Brookfield Asset Management by 24.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider’s stock valued at $139,000 after buying an additional 497 shares during the period. Cerity Partners LLC increased its stake in shares of Brookfield Asset Management by 17.6% during the second quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider’s stock valued at $1,916,000 after buying an additional 5,184 shares during the period. Finally, State Street Corp increased its stake in shares of Brookfield Asset Management by 11,172.2% during the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock valued at $194,845,000 after buying an additional 3,493,431 shares during the period. 68.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BAM has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their target price on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Scotiabank restated an “outperform” rating and issued a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a report on Monday, May 11th. Wall Street Zen lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Morgan Stanley lowered their price objective on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group lowered their price objective on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and an average target price of $60.21.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $46.21 on Monday. The company has a 50-day simple moving average of $47.14 and a two-hundred day simple moving average of $49.31. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10. The firm has a market capitalization of $75.69 billion, a PE ratio of 30.01, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.43 billion. On average, analysts anticipate that Brookfield Asset Management Ltd. will post 1.75 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 130.52%.

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.