Brookfield Asset Management Ltd. $BAM Stock Position Trimmed by Marathon Asset Management Ltd

Marathon Asset Management Ltd decreased its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 346,484 shares of the financial services provider’s stock after selling 20,840 shares during the period. Marathon Asset Management Ltd’s holdings in Brookfield Asset Management were worth $19,725,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Castle Rock Wealth Management LLC boosted its position in shares of Brookfield Asset Management by 3.8% during the third quarter. Castle Rock Wealth Management LLC now owns 22,033 shares of the financial services provider’s stock worth $1,246,000 after buying an additional 805 shares during the period. HBK Sorce Advisory LLC acquired a new position in Brookfield Asset Management during the 3rd quarter worth $226,000. CWM LLC grew its stake in shares of Brookfield Asset Management by 267.0% in the third quarter. CWM LLC now owns 9,227 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 6,713 shares in the last quarter. Blue Zone Wealth Advisors LLC increased its holdings in shares of Brookfield Asset Management by 0.8% during the third quarter. Blue Zone Wealth Advisors LLC now owns 176,373 shares of the financial services provider’s stock valued at $10,043,000 after purchasing an additional 1,457 shares during the period. Finally, Inspire Investing LLC raised its stake in shares of Brookfield Asset Management by 0.8% during the third quarter. Inspire Investing LLC now owns 47,244 shares of the financial services provider’s stock valued at $2,690,000 after purchasing an additional 381 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada set a $74.00 target price on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research report on Monday, December 15th. Piper Sandler decreased their price objective on shares of Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Morgan Stanley set a $62.00 target price on Brookfield Asset Management in a report on Monday, October 13th. Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Sunday, December 21st. Finally, Scotiabank lowered their price target on Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating on the stock in a research report on Monday, November 10th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.86.

Brookfield Asset Management Trading Down 0.2%

Brookfield Asset Management stock opened at $53.37 on Monday. The firm has a market cap of $87.42 billion, a price-to-earnings ratio of 33.36, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. The firm’s 50 day moving average price is $53.02 and its two-hundred day moving average price is $56.51. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.34 billion. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%. On average, research analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be paid a $0.4375 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.3%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 109.38%.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.