Cetera Investment Advisers Has $1.13 Million Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Cetera Investment Advisers reduced its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 60.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,678 shares of the financial services provider’s stock after selling 45,113 shares during the period. Cetera Investment Advisers’ holdings in Brookfield Asset Management were worth $1,130,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in BAM. Massmutual Trust Co. FSB ADV increased its holdings in Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 385 shares in the last quarter. Continuum Advisory LLC grew its holdings in shares of Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Brookfield Asset Management by 574.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after buying an additional 758 shares in the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Brookfield Asset Management by 368.3% in the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after buying an additional 755 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its position in Brookfield Asset Management by 151.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after buying an additional 640 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. 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. CIBC increased their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Scotiabank decreased their price objective on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a report on Thursday, August 8th. Finally, Bank of America increased their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Two 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.41.

Brookfield Asset Management Trading Up 3.3 %

Shares of NYSE BAM opened at $50.30 on Thursday. The firm has a market capitalization of $22.32 billion, a PE ratio of 46.57, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. The firm’s 50-day moving average is $44.06 and its 200-day moving average is $41.21. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $50.44.

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 for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same quarter in the prior year, the business earned $0.28 earnings per share. As a group, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.02%. Brookfield Asset Management’s dividend payout ratio is 140.74%.

About Brookfield Asset Management

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.