Brookfield Asset Management Ltd. $BAM Stock Sold by Mcdonald Capital Investors Inc. CA

Mcdonald Capital Investors Inc. CA decreased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 15.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 213,036 shares of the financial services provider’s stock after selling 40,421 shares during the period. Brookfield Asset Management accounts for about 0.8% of Mcdonald Capital Investors Inc. CA’s portfolio, making the stock its 17th largest holding. Mcdonald Capital Investors Inc. CA’s holdings in Brookfield Asset Management were worth $9,497,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Vermont acquired a new position in shares of Brookfield Asset Management in the second quarter valued at about $25,000. Alpine Bank Wealth Management bought a new position in shares of Brookfield Asset Management in the 3rd quarter valued at $26,000. Compass Financial Management LLC acquired a new position in Brookfield Asset Management during the second quarter worth about $27,000. Allied Private Wealth LLC acquired a new position in Brookfield Asset Management during the 2nd quarter worth approximately $40,000. Finally, Root Financial Partners LLC acquired a new position in shares of Brookfield Asset Management during the third quarter worth $50,000. 68.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BAM shares. Scotiabank reaffirmed an “outperform” rating and issued a $59.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, August 6th. Royal Bank Of Canada set a $65.00 price objective on Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Friday, September 18th. Wall Street Zen downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Weiss Ratings raised Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Bank of America lowered their price objective on shares of Brookfield Asset Management from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.03.

Brookfield Asset Management Price Performance

BAM stock opened at $46.79 on Wednesday. The stock’s fifty day simple moving average is $47.40 and its two-hundred day simple moving average is $47.93. Brookfield Asset Management Ltd. has a 1-year low of $42.20 and a 1-year high of $56.37.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. On average, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.77 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were paid a dividend of $0.5025 per share. The ex-dividend date was Monday, August 31st. This represents a $2.01 annualized dividend and a dividend yield of 4.3%.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.