JPMorgan Chase & Co. Cuts Stake in Brookfield Asset Management Ltd. $BAM

JPMorgan Chase & Co. cut its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,605,899 shares of the financial services provider’s stock after selling 67,247 shares during the quarter. JPMorgan Chase & Co.’s holdings in Brookfield Asset Management were worth $91,440,000 as of its most recent SEC filing.

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

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $44.48 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $72.85 billion, a PE ratio of 29.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.42. The firm’s 50 day moving average price is $49.73 and its 200-day moving average price is $53.05. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be given a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a yield of 4.5%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, February 27th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.24%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BAM shares. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note 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. UBS Group set a $52.00 target price on shares of Brookfield Asset Management in a research report on Friday, February 20th. BMO Capital Markets upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, Loop Capital set a $60.00 price target on Brookfield Asset Management in a report on Tuesday, January 6th. Two equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.65.

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.