Barclays PLC Sells 662 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Barclays PLC cut its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 24.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,003 shares of the financial services provider’s stock after selling 662 shares during the quarter. Barclays PLC’s holdings in Brookfield Asset Management were worth $95,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its position in shares of Brookfield Asset Management by 5,033.8% in the 2nd quarter. Acadian Asset Management LLC now owns 7,136 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 6,997 shares during the period. Choreo LLC bought a new stake in shares of Brookfield Asset Management in the 2nd quarter worth $239,000. AGF Management Ltd. grew its stake in shares of Brookfield Asset Management by 48.0% in the 2nd quarter. AGF Management Ltd. now owns 1,015,919 shares of the financial services provider’s stock worth $38,749,000 after acquiring an additional 329,573 shares in the last quarter. America First Investment Advisors LLC grew its stake in shares of Brookfield Asset Management by 8.1% in the 2nd quarter. America First Investment Advisors LLC now owns 461,916 shares of the financial services provider’s stock worth $17,576,000 after acquiring an additional 34,558 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new position in shares of Brookfield Asset Management in the 2nd quarter worth about $340,000. 68.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of research analyst reports. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Bank of America increased their price target 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. TD Securities upped their price objective on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Royal Bank of Canada upped their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company increased their price target on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $54.54.

Brookfield Asset Management Stock Up 3.2 %

Shares of BAM stock opened at $55.70 on Thursday. The stock has a fifty day moving average of $55.98 and a 200 day moving average of $47.89. Brookfield Asset Management Ltd. has a 52 week low of $37.19 and a 52 week high of $59.58. The firm has a market capitalization of $24.68 billion, a price-to-earnings ratio of 49.29, a PEG ratio of 2.43 and a beta of 1.45.

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

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Asset Management’s payout ratio is 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.