Burgundy Asset Management Ltd. Sells 39,652 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Burgundy Asset Management Ltd. lessened its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,562,926 shares of the financial services provider’s stock after selling 39,652 shares during the quarter. Burgundy Asset Management Ltd. owned about 0.35% of Brookfield Asset Management worth $59,470,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. YHB Investment Advisors Inc. acquired a new stake in shares of Brookfield Asset Management in the first quarter valued at about $26,000. Massmutual Trust Co. FSB ADV grew its holdings in Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after buying an additional 385 shares during the last quarter. Continuum Advisory LLC increased its position in Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after buying an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after buying an additional 758 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its holdings in shares of Brookfield Asset Management by 368.3% during the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after buying an additional 755 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 price objective on the stock. TD Securities increased their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Bank of America lifted their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, The Goldman Sachs Group upped their price target on Brookfield Asset Management from $41.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and an average price target of $43.81.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $45.71 on Thursday. The business has a 50 day simple moving average of $41.54 and a 200 day simple moving average of $40.38. The company has a market capitalization of $20.28 billion, a PE ratio of 42.32, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $46.28.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data 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 company had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business posted $0.28 earnings per share. Equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.42 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a $0.38 dividend. 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 (DPR) is presently 140.74%.

Brookfield Asset Management Company 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.