Brown Brothers Harriman & Co. Sells 333 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Brown Brothers Harriman & Co. decreased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,089 shares of the financial services provider’s stock after selling 333 shares during the period. Brown Brothers Harriman & Co.’s holdings in Brookfield Asset Management were worth $308,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BAM. Norges Bank bought a new stake in Brookfield Asset Management during the fourth quarter valued at $239,421,000. FIL Ltd lifted its stake in Brookfield Asset Management by 66.1% during the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock worth $454,424,000 after purchasing an additional 4,501,410 shares during the last quarter. TD Asset Management Inc lifted its stake in Brookfield Asset Management by 29.2% during the fourth quarter. TD Asset Management Inc now owns 11,498,183 shares of the financial services provider’s stock worth $464,078,000 after purchasing an additional 2,595,793 shares during the last quarter. Capital World Investors lifted its stake in Brookfield Asset Management by 10.0% during the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock worth $986,656,000 after purchasing an additional 2,241,372 shares during the last quarter. Finally, Madison Asset Management LLC lifted its stake in Brookfield Asset Management by 152.9% during the fourth quarter. Madison Asset Management LLC now owns 1,440,023 shares of the financial services provider’s stock worth $57,846,000 after purchasing an additional 870,700 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 $45.71 on Thursday. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $46.28. The company has a market cap of $20.28 billion, a PE ratio of 42.32, a P/E/G ratio of 2.26 and a beta of 1.56. The stock’s 50-day moving average is $41.54 and its 200 day moving average is $40.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The business had revenue of $916.00 million for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. Analysts expect that Brookfield Asset Management Ltd. will post 1.42 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 3.33%. Brookfield Asset Management’s dividend payout ratio is presently 140.74%.

Analyst Upgrades and Downgrades

BAM has been the subject of several research analyst reports. CIBC lifted their price target on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research note on Friday, July 19th. Wells Fargo & Company initiated coverage on Brookfield Asset Management in a research note on Thursday, September 12th. They set an “underweight” rating and a $42.00 price target for the company. The Goldman Sachs Group lifted their price target on Brookfield Asset Management from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. decreased their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Bank of America lifted their price objective on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.81.

Brookfield Asset Management Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.