Barclays PLC Cuts Position in Brookfield Asset Management Ltd. (NYSE:BAM)

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hara Capital LLC bought a new stake in Brookfield Asset Management in the third quarter worth $27,000. RPg Family Wealth Advisory LLC bought a new stake in Brookfield Asset Management in the third quarter worth $27,000. Continuum Advisory LLC lifted its stake in Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 329 shares during the last quarter. Quent Capital LLC raised its stake in shares of Brookfield Asset Management by 62.1% during the third quarter. Quent Capital LLC now owns 1,135 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 435 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of Brookfield Asset Management during the second quarter valued at about $99,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $58.27 on Friday. The stock has a market cap of $25.82 billion, a PE ratio of 51.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.45. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $59.58. The firm’s 50-day simple moving average is $55.78 and its two-hundred day simple moving average is $49.04.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $0.35 earnings per share. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BAM. BMO Capital Markets upped their price objective on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research note 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 company an “outperform” rating in a research note on Tuesday, November 5th. Scotiabank upped their price objective on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods lowered their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. Finally, StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $54.38.

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.