Motley Fool Wealth Management LLC Reduces Stock Position in Brookfield Asset Management Ltd. $BAM

Motley Fool Wealth Management LLC decreased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 16.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 154,231 shares of the financial services provider’s stock after selling 30,118 shares during the period. Motley Fool Wealth Management LLC’s holdings in Brookfield Asset Management were worth $8,080,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LOM Asset Management Ltd purchased a new stake in Brookfield Asset Management in the 4th quarter valued at about $31,000. eCIO Inc. acquired a new position in Brookfield Asset Management during the 4th quarter worth approximately $42,000. Assetmark Inc. lifted its position in Brookfield Asset Management by 95.9% during the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 395 shares in the last quarter. Cary Street Partners Financial LLC lifted its position in Brookfield Asset Management by 227.5% during the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 562 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Brookfield Asset Management by 47.8% during the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 2.5%

Shares of NYSE BAM opened at $47.14 on Wednesday. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $64.10. The company has a market cap of $77.21 billion, a price-to-earnings ratio of 30.61, a P/E/G ratio of 1.85 and a beta of 1.26. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $47.26 and a 200-day simple moving average of $49.26.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. Sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.75 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management’s payout ratio is presently 130.52%.

Analyst Ratings Changes

Several equities research analysts have issued reports on BAM shares. JPMorgan Chase & Co. dropped their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. UBS Group set a $52.00 price objective on Brookfield Asset Management in a research note on Friday, February 20th. Weiss Ratings downgraded Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. Wall Street Zen lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Canadian Imperial Bank of Commerce set a $62.50 price target on Brookfield Asset Management in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Brookfield Asset Management presently has an average rating of “Hold” and a consensus target price of $60.21.

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.