Brookfield Asset Management Ltd. $BAM Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 18.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,178,358 shares of the financial services provider’s stock after selling 4,681,330 shares during the period. Royal Bank of Canada owned approximately 1.23% of Brookfield Asset Management worth $1,057,145,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank purchased a new position in shares of Brookfield Asset Management during the 4th quarter valued at approximately $263,444,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Brookfield Asset Management by 88,805.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,725,314 shares of the financial services provider’s stock valued at $247,559,000 after purchasing an additional 4,719,999 shares in the last quarter. State Street Corp increased its holdings in shares of Brookfield Asset Management by 11,172.2% during the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock valued at $194,845,000 after purchasing an additional 3,493,431 shares in the last quarter. GFI Investment Counsel Ltd. purchased a new position in shares of Brookfield Asset Management during the 4th quarter valued at approximately $182,090,000. Finally, CIBC Asset Management Inc increased its holdings in shares of Brookfield Asset Management by 99.1% during the 4th quarter. CIBC Asset Management Inc now owns 4,853,861 shares of the financial services provider’s stock valued at $255,449,000 after purchasing an additional 2,415,593 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group set a $52.00 target price on shares of Brookfield Asset Management in a report on Friday, February 20th. Zacks Research lowered shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. The Goldman Sachs Group cut their target price on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, Canadian Imperial Bank of Commerce set a $62.50 target price on shares of Brookfield Asset Management in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and an average target price of $60.21.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $48.56 on Wednesday. The firm has a market cap of $79.54 billion, a PE ratio of 31.53, a PEG ratio of 1.93 and a beta of 1.26. The firm has a fifty day moving average of $47.57 and a 200 day moving average of $49.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10.

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

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be issued a $0.5025 dividend. This represents a $2.01 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management’s payout ratio is presently 130.52%.

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.