Brookfield Asset Management Ltd. $BAM Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC trimmed its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,908,051 shares of the financial services provider’s stock after selling 18,733 shares during the quarter. Brookfield Asset Management makes up 1.2% of Madison Asset Management LLC’s portfolio, making the stock its 22nd biggest position. Madison Asset Management LLC’s holdings in Brookfield Asset Management were worth $108,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. PDS Planning Inc lifted its position in shares of Brookfield Asset Management by 4.8% during the third quarter. PDS Planning Inc now owns 4,054 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 184 shares during the last quarter. Truist Financial Corp increased 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 buying an additional 187 shares during the last quarter. GoalVest Advisory LLC raised its stake in Brookfield Asset Management by 9.5% during the second quarter. GoalVest Advisory LLC now owns 2,180 shares of the financial services provider’s stock valued at $121,000 after buying an additional 190 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in 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 worth $627,000 after buying an additional 226 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its position 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 worth $48,000 after acquiring an additional 233 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on BAM. Scotiabank set a $64.00 price target on Brookfield Asset Management and gave the company an “outperform” rating in a research report on Thursday, February 5th. Keefe, Bruyette & Woods lowered their target price on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a research note on Monday, November 10th. The Goldman Sachs Group reduced their price target on shares of 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. JPMorgan Chase & Co. lifted their price target on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Finally, Royal Bank Of Canada set a $74.00 price objective on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.33.

Brookfield Asset Management Stock Up 2.8%

BAM opened at $52.94 on Wednesday. The business has a 50 day moving average of $52.42 and a 200-day moving average of $55.38. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10. The stock has a market capitalization of $86.71 billion, a price-to-earnings ratio of 34.83, a P/E/G ratio of 2.13 and a beta of 1.40.

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

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a dividend of $0.5025 per share. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, February 27th. This represents a $2.01 annualized dividend and a dividend yield of 3.8%. Brookfield Asset Management’s dividend payout ratio (DPR) 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.