Douglass Winthrop Advisors LLC Sells 32,577 Shares of Brookfield Asset Management Ltd. $BAM

Douglass Winthrop Advisors LLC lowered its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,366,825 shares of the financial services provider’s stock after selling 32,577 shares during the period. Brookfield Asset Management accounts for 2.3% of Douglass Winthrop Advisors LLC’s holdings, making the stock its 17th largest holding. Douglass Winthrop Advisors LLC owned approximately 0.14% of Brookfield Asset Management worth $134,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BAM. Vanguard Group Inc. increased its position in Brookfield Asset Management by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock valued at $991,677,000 after acquiring an additional 253,789 shares during the period. Cumberland Partners Ltd grew its stake in shares of Brookfield Asset Management by 78.0% in the third quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider’s stock worth $7,168,000 after purchasing an additional 55,225 shares during the last quarter. Hillsdale Investment Management Inc. increased its holdings in Brookfield Asset Management by 65.6% in the third quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider’s stock valued at $14,463,000 after purchasing an additional 100,713 shares during the period. New York State Common Retirement Fund increased its holdings in Brookfield Asset Management by 18.5% in the third quarter. New York State Common Retirement Fund now owns 465,600 shares of the financial services provider’s stock valued at $26,511,000 after purchasing an additional 72,600 shares during the period. Finally, Intact Investment Management Inc. raised its position in Brookfield Asset Management by 127.5% during the 3rd quarter. Intact Investment Management Inc. now owns 590,560 shares of the financial services provider’s stock worth $33,612,000 after purchasing an additional 330,970 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. UBS Group set a $52.00 price objective on Brookfield Asset Management in a research report on Friday, February 20th. Scotiabank set a $64.00 price objective on Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, December 22nd. Finally, The Goldman Sachs Group decreased their target price 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. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.65.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $44.66 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05. The firm’s fifty day simple moving average is $50.56 and its two-hundred day simple moving average is $53.57. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10. The stock has a market capitalization of $73.15 billion, a P/E ratio of 29.38, a price-to-earnings-growth ratio of 1.60 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data 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, analysts predict 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 $0.5025 dividend. The ex-dividend date is Friday, February 27th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 dividend on an annualized basis and a yield of 4.5%. Brookfield Asset Management’s dividend payout ratio is presently 132.24%.

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.