Segall Bryant & Hamill LLC Sells 263,349 Shares of Brookfield Asset Management Ltd. $BAM

Segall Bryant & Hamill LLC trimmed its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 76.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,933 shares of the financial services provider’s stock after selling 263,349 shares during the period. Segall Bryant & Hamill LLC’s holdings in Brookfield Asset Management were worth $3,642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BAM. Zions Bancorporation National Association UT lifted its stake in Brookfield Asset Management by 241.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 345 shares in the last quarter. LOM Asset Management Ltd bought a new position in shares of Brookfield Asset Management during the 4th quarter valued at about $31,000. eCIO Inc. purchased a new position in shares of Brookfield Asset Management during the fourth quarter valued at about $42,000. Allworth Financial LP grew its position in shares of Brookfield Asset Management by 47.8% during the fourth quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 333 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Brookfield Asset Management by 709.8% in the fourth quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 937 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of research reports. Scotiabank reaffirmed an “outperform” rating and issued a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce set a $62.50 target price on Brookfield Asset Management in a research report on Monday, May 11th. Royal Bank Of Canada cut their target price on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, May 11th. Weiss Ratings cut shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. Finally, The Goldman Sachs Group decreased their price target on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $59.03.

Brookfield Asset Management Trading Up 4.7%

BAM stock opened at $50.69 on Tuesday. The company has a market capitalization of $83.04 billion, a PE ratio of 32.92, a P/E/G ratio of 1.97 and a beta of 1.26. The firm’s 50-day moving average is $47.03 and its 200 day moving average is $47.59. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $64.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. On average, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.76 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were given a dividend of $0.5025 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a yield of 4.0%. Brookfield Asset Management’s dividend payout ratio (DPR) is 130.52%.

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.