State Street Corp Sells 1,755 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

State Street Corp reduced its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,418 shares of the financial services provider’s stock after selling 1,755 shares during the quarter. State Street Corp’s holdings in Brookfield Asset Management were worth $1,580,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Hara Capital LLC bought a new stake in Brookfield Asset Management in the 3rd quarter worth approximately $27,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Brookfield Asset Management in the 3rd quarter worth approximately $27,000. Richardson Financial Services Inc. boosted its stake in shares of Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 755 shares in the last quarter. Legacy Bridge LLC bought a new position in shares of Brookfield Asset Management during the 2nd quarter valued at $52,000. Finally, Quent Capital LLC raised its position in Brookfield Asset Management by 62.1% in the 3rd quarter. Quent Capital LLC now owns 1,135 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 435 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BAM. The Goldman Sachs Group upped their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft increased their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. UBS Group started coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Brookfield Asset Management from $49.00 to $57.00 and gave the stock an “underperform” rating in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $54.54.

Brookfield Asset Management Trading Down 0.7 %

Shares of NYSE BAM opened at $54.19 on Thursday. The firm has a fifty day simple moving average of $55.83 and a two-hundred day simple moving average of $47.31. Brookfield Asset Management Ltd. has a 12 month low of $37.19 and a 12 month high of $59.58. The firm has a market capitalization of $24.01 billion, a PE ratio of 47.96, a price-to-earnings-growth ratio of 2.43 and a beta of 1.41.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period in the prior year, the firm earned $0.35 earnings per share. On average, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Asset Management’s payout ratio is presently 134.51%.

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.