Strs Ohio Lowers Holdings in Brookfield Asset Management Ltd. $BAM

Strs Ohio trimmed its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 10.7% during the 3rd quarter, Holdings Channel reports. The fund owned 300,366 shares of the financial services provider’s stock after selling 36,031 shares during the quarter. Strs Ohio’s holdings in Brookfield Asset Management were worth $17,099,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BAM. Covestor Ltd grew its stake in shares of Brookfield Asset Management by 11,107.7% during the 3rd quarter. Covestor Ltd now owns 2,914 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 2,888 shares during the period. Chicago Partners Investment Group LLC lifted its stake in shares of Brookfield Asset Management by 1.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 62,046 shares of the financial services provider’s stock valued at $3,421,000 after purchasing an additional 1,029 shares during the period. Triasima Portfolio Management inc. boosted its holdings in Brookfield Asset Management by 88.6% during the third quarter. Triasima Portfolio Management inc. now owns 9,274 shares of the financial services provider’s stock worth $528,000 after buying an additional 4,357 shares in the last quarter. Arkadios Wealth Advisors grew its position in Brookfield Asset Management by 13.5% during the third quarter. Arkadios Wealth Advisors now owns 4,621 shares of the financial services provider’s stock valued at $263,000 after buying an additional 548 shares during the period. Finally, JCIC Asset Management Inc. acquired a new stake in Brookfield Asset Management during the third quarter valued at $4,575,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BAM has been the subject of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brookfield Asset Management in a research report on Monday, December 22nd. Wall Street Zen raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Morgan Stanley set a $62.00 price target on Brookfield Asset Management in a research report on Monday, October 13th. Scotiabank dropped their price objective on Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating on the stock in a report on Monday, November 10th. Finally, Keefe, Bruyette & Woods reduced their target price on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a research note on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.38.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $51.26 on Friday. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10. The stock has a 50 day moving average of $52.58 and a two-hundred day moving average of $56.17. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. The firm has a market cap of $83.96 billion, a P/E ratio of 32.04, a price-to-earnings-growth ratio of 2.20 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%. On average, analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th were issued a $0.4375 dividend. The ex-dividend date was Friday, November 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.4%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 109.38%.

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.