Hillsdale Investment Management Inc. Sells 180,425 Shares of Brookfield Asset Management Ltd. $BAM

Hillsdale Investment Management Inc. decreased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 70.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 75,870 shares of the financial services provider’s stock after selling 180,425 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Brookfield Asset Management were worth $3,372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of BAM. Cooke & Bieler LP grew its holdings in Brookfield Asset Management by 48.6% in the fourth quarter. Cooke & Bieler LP now owns 2,001,903 shares of the financial services provider’s stock worth $104,880,000 after purchasing an additional 655,009 shares during the period. Vanguard Group Inc. raised its holdings in shares of Brookfield Asset Management by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock valued at $928,414,000 after purchasing an additional 297,790 shares during the period. CIBC Bancorp USA Inc. bought a new position in shares of Brookfield Asset Management during the 3rd quarter worth about $23,197,000. Principal Financial Group Inc. boosted its position in shares of Brookfield Asset Management by 7.3% during the 4th quarter. Principal Financial Group Inc. now owns 7,863,457 shares of the financial services provider’s stock worth $411,972,000 after purchasing an additional 533,639 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Brookfield Asset Management by 147.1% in the 4th quarter. SG Americas Securities LLC now owns 119,494 shares of the financial services provider’s stock valued at $6,260,000 after buying an additional 71,129 shares during the period. Institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

BAM has been the subject of a number of research analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. Zacks Research lowered Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. JPMorgan Chase & Co. reduced their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Scotiabank restated an “outperform” rating and set a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a report on Monday, May 11th. Finally, Morgan Stanley lowered their target price on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.41.

Brookfield Asset Management Trading Up 3.3%

NYSE:BAM opened at $49.07 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10. The company has a market cap of $80.39 billion, a PE ratio of 31.86, a PEG ratio of 1.96 and a beta of 1.29. The firm has a 50-day moving average of $47.22 and a 200-day moving average of $48.12.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. As a group, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.74 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were paid a $0.5025 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.01 annualized dividend and a dividend yield of 4.1%. Brookfield Asset Management’s dividend payout ratio is 130.52%.

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.