Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. lessened its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 626,409 shares of the financial services provider’s stock after selling 21,166 shares during the period. 1832 Asset Management L.P. owned about 0.14% of Brookfield Asset Management worth $23,835,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. YHB Investment Advisors Inc. acquired a new stake in shares of Brookfield Asset Management during the 1st quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 385 shares during the period. Continuum Advisory LLC raised 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 period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Brookfield Asset Management by 574.2% in the 1st 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. boosted its holdings 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 buying an additional 755 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 0.1 %

BAM stock opened at $46.81 on Tuesday. The company has a 50-day simple moving average of $41.92 and a 200 day simple moving average of $40.48. The company has a market capitalization of $20.77 billion, a P/E ratio of 43.34, a PEG ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $47.74.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued 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). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The company had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company posted $0.28 earnings per share. Equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.42 EPS for the current 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 paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Asset Management’s payout ratio is currently 140.74%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BAM shares. 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 research note on Friday, July 19th. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Scotiabank lowered their price objective on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a research note on Thursday, August 8th. TD Securities increased their target price on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Finally, BMO Capital Markets boosted their price target on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management currently 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.