Brookfield Asset Management Ltd. $BAM Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,177,123 shares of the financial services provider’s stock after selling 168,416 shares during the quarter. William Blair Investment Management LLC owned about 0.19% of Brookfield Asset Management worth $180,905,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BAM. PDS Planning Inc raised its position in Brookfield Asset Management by 4.8% during the 3rd quarter. PDS Planning Inc now owns 4,054 shares of the financial services provider’s stock worth $231,000 after buying an additional 184 shares during the last quarter. Truist Financial Corp boosted its holdings in Brookfield Asset Management by 1.4% in the third quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock valued at $754,000 after purchasing an additional 187 shares during the last quarter. Yousif Capital Management LLC raised its stake in shares of Brookfield Asset Management by 2.1% during the 3rd quarter. Yousif Capital Management LLC now owns 11,010 shares of the financial services provider’s stock valued at $627,000 after buying an additional 226 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of Brookfield Asset Management by 38.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock valued at $48,000 after buying an additional 233 shares during the period. Finally, Wulff Hansen & CO. boosted its stake in shares of Brookfield Asset Management by 3.2% in the third quarter. Wulff Hansen & CO. now owns 7,830 shares of the financial services provider’s stock worth $446,000 after buying an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BAM. The Goldman Sachs Group lowered their price objective on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods lowered their price target on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating on the stock in a report on Monday, November 10th. Scotiabank set a $64.00 price target on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research report on Thursday, February 5th. Royal Bank Of Canada set a $74.00 target price on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Monday, December 15th. Finally, BMO Capital Markets upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.65.

Brookfield Asset Management Stock Down 4.2%

Shares of NYSE BAM opened at $46.68 on Friday. The firm has a market cap of $76.47 billion, a price-to-earnings ratio of 30.71, a price-to-earnings-growth ratio of 1.63 and a beta of 1.40. The company’s 50-day simple moving average is $51.67 and its 200-day simple moving average is $54.39. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Equities analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a $0.5025 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, February 27th. Brookfield Asset Management’s dividend payout ratio is presently 115.13%.

Brookfield Asset Management Company Profile

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.