Chicago Partners Investment Group LLC Lowers Position in Brookfield Asset Management Ltd. $BAM

Chicago Partners Investment Group LLC trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,017 shares of the financial services provider’s stock after selling 647 shares during the period. Chicago Partners Investment Group LLC’s holdings in Brookfield Asset Management were worth $3,373,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BAM. Vanguard Group Inc. boosted its holdings in shares of Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock valued at $832,833,000 after buying an additional 302,852 shares in the last quarter. TD Asset Management Inc boosted its stake in Brookfield Asset Management by 1.6% during the second quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider’s stock worth $861,101,000 after acquiring an additional 250,068 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in Brookfield Asset Management by 12.2% in the second quarter. DAVENPORT & Co LLC now owns 3,556,812 shares of the financial services provider’s stock worth $196,348,000 after purchasing an additional 385,937 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Brookfield Asset Management by 58.9% during the first quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider’s stock valued at $163,354,000 after purchasing an additional 1,246,011 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC lifted its holdings in shares of Brookfield Asset Management by 0.5% during the first quarter. Douglass Winthrop Advisors LLC now owns 2,672,065 shares of the financial services provider’s stock valued at $129,342,000 after purchasing an additional 14,498 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BAM. National Bankshares set a $71.00 price objective on Brookfield Asset Management and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada lifted their price target on Brookfield Asset Management from $74.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday. National Bank Financial initiated coverage on shares of Brookfield Asset Management in a research report on Tuesday, July 29th. They set an “outperform” rating and a $71.00 price objective on the stock. Bank of America lowered shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price objective for the company. in a research note on Thursday, September 4th. Finally, Jefferies Financial Group upped their target price on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Brookfield Asset Management has a consensus rating of “Moderate Buy” and an average target price of $64.27.

Brookfield Asset Management Price Performance

BAM opened at $54.16 on Monday. The company’s 50-day simple moving average is $58.69 and its two-hundred day simple moving average is $56.59. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $88.71 billion, a P/E ratio of 36.35, a P/E/G ratio of 2.02 and a beta of 1.39. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. As a group, analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Asset Management’s dividend payout ratio is presently 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.