Brookfield Asset Management Ltd. $BAM Shares Sold by Capital International Investors

Capital International Investors lowered its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,082,874 shares of the financial services provider’s stock after selling 190,616 shares during the quarter. Capital International Investors’ holdings in Brookfield Asset Management were worth $915,759,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BAM. Vanguard Group Inc. grew its holdings in shares of Brookfield Asset Management by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock worth $991,677,000 after purchasing an additional 253,789 shares during the period. Mackenzie Financial Corp raised its holdings in Brookfield Asset Management by 2.5% in the 2nd quarter. Mackenzie Financial Corp now owns 11,400,930 shares of the financial services provider’s stock valued at $631,412,000 after buying an additional 282,853 shares during the period. Norges Bank acquired a new position in Brookfield Asset Management in the second quarter valued at about $294,730,000. The Manufacturers Life Insurance Company lifted its position in Brookfield Asset Management by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 4,218,119 shares of the financial services provider’s stock valued at $232,402,000 after buying an additional 857,994 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Brookfield Asset Management by 62.4% during the second quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider’s stock worth $208,571,000 after buying an additional 1,443,441 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BAM shares. The Goldman Sachs Group dropped their price target on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, December 22nd. UBS Group set a $52.00 price objective on shares of Brookfield Asset Management in a research report on Friday, February 20th. Zacks Research upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Finally, Scotiabank set a $64.00 price target on Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.65.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $45.28 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $74.17 billion, a P/E ratio of 29.79, a P/E/G ratio of 1.62 and a beta of 1.42. The stock has a 50-day moving average of $50.72 and a two-hundred day moving average of $53.64. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.40 billion. As a group, analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be issued a dividend of $0.5025 per share. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, February 27th. This represents a $2.01 dividend on an annualized basis and a yield of 4.4%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.24%.

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.