Bank of New York Mellon Corp Sells 35,164 Shares of Brookfield Asset Management Ltd. $BAM

Bank of New York Mellon Corp decreased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,007,645 shares of the financial services provider’s stock after selling 35,164 shares during the quarter. Bank of New York Mellon Corp’s holdings in Brookfield Asset Management were worth $44,790,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Sanctuary Advisors LLC grew its holdings in Brookfield Asset Management by 21.3% during the 1st quarter. Sanctuary Advisors LLC now owns 5,389 shares of the financial services provider’s stock valued at $239,000 after buying an additional 946 shares in the last quarter. Principal Financial Group Inc. lifted its position in Brookfield Asset Management by 62.0% during the first quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider’s stock valued at $566,092,000 after purchasing an additional 4,872,090 shares during the last quarter. Schwartz Investment Counsel Inc. grew its stake in shares of Brookfield Asset Management by 1.3% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 81,177 shares of the financial services provider’s stock worth $3,608,000 after buying an additional 1,023 shares in the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Brookfield Asset Management by 1.1% in the 1st quarter. Chicago Partners Investment Group LLC now owns 57,572 shares of the financial services provider’s stock worth $2,793,000 after buying an additional 619 shares during the last quarter. Finally, Diversify Wealth Management LLC increased its holdings in shares of Brookfield Asset Management by 31.2% in the 1st quarter. Diversify Wealth Management LLC now owns 23,910 shares of the financial services provider’s stock worth $1,101,000 after buying an additional 5,688 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

BAM opened at $46.35 on Friday. 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 business’s fifty day simple moving average is $47.00 and its 200-day simple moving average is $47.87. The company has a market capitalization of $75.93 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 1.86 and a beta of 1.29.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.76 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were paid a dividend of $0.5025 per share. The ex-dividend date was Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.3%. Brookfield Asset Management’s payout ratio is presently 130.52%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. The Goldman Sachs Group reduced their price objective on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. JPMorgan Chase & Co. dropped their target price on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Canadian Imperial Bank of Commerce set a $62.50 price target on Brookfield Asset Management in a report on Monday, May 11th. Weiss Ratings downgraded Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. Finally, Morgan Stanley set a $56.00 price objective on shares of Brookfield Asset Management and gave the company an “equal weight” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $60.03.

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.