First Manhattan CO. LLC. Cuts Stake in Brookfield Asset Management Ltd. $BAM

First Manhattan CO. LLC. reduced its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,111,922 shares of the financial services provider’s stock after selling 31,468 shares during the period. First Manhattan CO. LLC.’s holdings in Brookfield Asset Management were worth $58,329,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC grew its holdings in Brookfield Asset Management by 561.8% in the fourth quarter. AQR Capital Management LLC now owns 58,249 shares of the financial services provider’s stock worth $3,052,000 after purchasing an additional 49,447 shares during the last quarter. EFG International AG purchased a new position in Brookfield Asset Management in the fourth quarter worth $791,000. BCV Asset Management Inc. purchased a new position in Brookfield Asset Management in the fourth quarter worth $2,843,000. Guardian Partners Inc. grew its holdings in Brookfield Asset Management by 10.0% in the fourth quarter. Guardian Partners Inc. now owns 340,315 shares of the financial services provider’s stock worth $16,832,000 after purchasing an additional 31,051 shares during the last quarter. Finally, Amundi grew its holdings in Brookfield Asset Management by 1.0% in the fourth quarter. Amundi now owns 472,894 shares of the financial services provider’s stock worth $24,775,000 after purchasing an additional 4,517 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. Scotiabank reiterated an “outperform” rating and set a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. Zacks Research downgraded shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. The Goldman Sachs Group lowered their price objective on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada lowered their price objective on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and an average price target of $60.21.

Brookfield Asset Management Trading Down 1.3%

NYSE:BAM opened at $47.96 on Thursday. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $64.10. The firm has a fifty day simple moving average of $47.64 and a 200-day simple moving average of $49.10. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $78.56 billion, a P/E ratio of 31.14, a PEG ratio of 1.95 and a beta of 1.26.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.75 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.5025 per share. The ex-dividend date is Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a yield of 4.2%. Brookfield Asset Management’s payout ratio is currently 130.52%.

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.