Capital World Investors Has $879.53 Million Stock Position in Brookfield Asset Management Ltd. $BAM

Capital World Investors decreased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,448,435 shares of the financial services provider’s stock after selling 921,250 shares during the period. Capital World Investors’ holdings in Brookfield Asset Management were worth $879,531,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BAM. Vanguard Group Inc. lifted its position in shares of Brookfield Asset Management by 1.5% during the third quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock valued at $991,677,000 after purchasing an additional 253,789 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of 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 worth $631,412,000 after purchasing an additional 282,853 shares during the period. Norges Bank purchased a new position in Brookfield Asset Management in the second quarter valued at approximately $294,730,000. The Manufacturers Life Insurance Company grew its holdings in Brookfield Asset Management by 25.5% during 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 purchasing an additional 857,994 shares during the period. Finally, Geode Capital Management LLC grew its holdings 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 valued at $208,571,000 after purchasing an additional 1,443,441 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 1.5%

Shares of NYSE BAM opened at $45.28 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.05. 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. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. The business has a 50-day simple moving average of $50.72 and a two-hundred day simple moving average of $53.64.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. Research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

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

Wall Street Analyst Weigh In

BAM has been the topic of several research reports. The Goldman Sachs Group lowered their target price on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Royal Bank Of Canada set a $74.00 price objective on Brookfield Asset Management and gave the stock an “outperform” rating in a report on Monday, December 15th. UBS Group set a $52.00 price objective on Brookfield Asset Management in a research note on Friday, February 20th. JPMorgan Chase & Co. increased their target price on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Finally, Loop Capital set a $60.00 target price on shares of Brookfield Asset Management in a research note on Tuesday, January 6th. Two 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.65.

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.