Capital Group Private Client Services Inc. Has $900,000 Stock Holdings in Brookfield Asset Management Ltd. $BAM

Capital Group Private Client Services Inc. decreased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 77.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,809 shares of the financial services provider’s stock after selling 53,714 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Brookfield Asset Management were worth $900,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. PDS Planning Inc grew its holdings in shares of Brookfield Asset Management by 4.8% during the 3rd quarter. PDS Planning Inc now owns 4,054 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 184 shares in the last quarter. Truist Financial Corp boosted its position in Brookfield Asset Management by 1.4% during the third quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock valued at $754,000 after purchasing an additional 187 shares during the last quarter. Yousif Capital Management LLC boosted its position in Brookfield Asset Management by 2.1% during the third quarter. Yousif Capital Management LLC now owns 11,010 shares of the financial services provider’s stock valued at $627,000 after purchasing an additional 226 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in Brookfield Asset Management by 38.0% in the third quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 233 shares in the last quarter. Finally, Wulff Hansen & CO. increased its position in Brookfield Asset Management by 3.2% in the 3rd quarter. Wulff Hansen & CO. now owns 7,830 shares of the financial services provider’s stock worth $446,000 after purchasing an additional 240 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 1.5%

Shares of BAM stock opened at $45.28 on Wednesday. The stock’s 50 day simple moving average is $50.72 and its 200 day simple moving average is $53.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10. The company has a market capitalization of $74.17 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 1.62 and a beta of 1.42.

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

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a $0.5025 dividend. The ex-dividend date is Friday, February 27th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.4%. Brookfield Asset Management’s dividend payout ratio is presently 132.24%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Zacks Research raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Morgan Stanley set a $63.00 price target on Brookfield Asset Management in a research note on Tuesday, February 17th. JPMorgan Chase & Co. increased their price objective on Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brookfield Asset Management in a research note on Monday, December 22nd. Finally, BMO Capital Markets raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and an average price target of $63.65.

About Brookfield Asset Management

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.