Brookfield Asset Management Ltd. $BAM Shares Sold by CI Investments Inc.

CI Investments Inc. decreased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 14.1% in the third quarter, Holdings Channel reports. The firm owned 426,095 shares of the financial services provider’s stock after selling 69,780 shares during the period. CI Investments Inc.’s holdings in Brookfield Asset Management were worth $24,262,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BAM. Manchester Capital Management LLC lifted its stake in shares of Brookfield Asset Management by 559.5% during the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after buying an additional 442 shares during the period. Sagard Holdings Management Inc. purchased a new position in Brookfield Asset Management in the 2nd quarter worth $39,000. Assetmark Inc. raised its stake in Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 395 shares during the last quarter. Cary Street Partners Financial LLC lifted its position in Brookfield Asset Management by 227.5% during the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 562 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Brookfield Asset Management by 93.3% in the third quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 401 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their target price on Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Zacks Research upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Royal Bank Of Canada set a $74.00 target price on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a report on Monday, December 15th. Finally, UBS Group set a $52.00 price target on shares of Brookfield Asset Management in a report on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Brookfield Asset Management has a consensus rating of “Moderate Buy” and a consensus target price of $63.65.

Brookfield Asset Management Stock Performance

BAM opened at $46.56 on Wednesday. The firm has a fifty day moving average price of $51.42 and a 200 day moving average price of $54.13. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. The stock has a market cap of $76.26 billion, a P/E ratio of 30.63, a P/E/G ratio of 1.66 and a beta of 1.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. Equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be paid a $0.5025 dividend. The ex-dividend date is Friday, February 27th. This represents a $2.01 annualized dividend and a dividend yield of 4.3%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.24%.

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.