Tritonpoint Wealth LLC Sells 1,960 Shares of Brookfield Asset Management Ltd. $BAM

Tritonpoint Wealth LLC trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,728 shares of the financial services provider’s stock after selling 1,960 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Brookfield Asset Management were worth $4,076,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Squarepoint Ops LLC bought a new stake in Brookfield Asset Management in the 4th quarter valued at $589,000. Public Employees Retirement System of Ohio lifted its position in Brookfield Asset Management by 26.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 43,634 shares of the financial services provider’s stock valued at $2,366,000 after acquiring an additional 9,113 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Brookfield Asset Management by 7.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 42,148 shares of the financial services provider’s stock valued at $2,284,000 after acquiring an additional 2,914 shares in the last quarter. Versant Capital Management Inc lifted its position in Brookfield Asset Management by 231.4% in the 1st quarter. Versant Capital Management Inc now owns 2,714 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 1,895 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Brookfield Asset Management by 4,745.0% in the 1st quarter. GAMMA Investing LLC now owns 18,750 shares of the financial services provider’s stock valued at $908,000 after acquiring an additional 18,363 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Scotiabank boosted their price objective on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the company a “sector outperform” rating in a research report on Thursday, August 7th. Royal Bank Of Canada started coverage on shares of Brookfield Asset Management in a research note on Wednesday, June 18th. They issued an “outperform” rating and a $72.00 price target on the stock. National Bank Financial started coverage on shares of Brookfield Asset Management in a research note on Tuesday, July 29th. They issued an “outperform” rating and a $71.00 price target on the stock. National Bankshares set a $71.00 price target on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Finally, CIBC lifted their price target on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.52.

Brookfield Asset Management Stock Up 0.1%

Brookfield Asset Management stock opened at $58.09 on Friday. The firm has a market capitalization of $95.14 billion, a PE ratio of 38.99, a P/E/G ratio of 2.12 and a beta of 1.44. The company’s 50-day moving average is $60.20 and its 200-day moving average is $55.75. Brookfield Asset Management Ltd. has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. Sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a $0.4375 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 3.0%. Brookfield Asset Management’s dividend payout ratio is 117.45%.

About Brookfield Asset Management

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.