Brookfield Asset Management Ltd. $BAM Stock Sold by Cooke & Bieler LP

Cooke & Bieler LP reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 21.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,417,157 shares of the financial services provider’s stock after selling 646,893 shares during the period. Brookfield Asset Management makes up about 1.6% of Cooke & Bieler LP’s investment portfolio, making the stock its 19th biggest holding. Cooke & Bieler LP owned approximately 0.15% of Brookfield Asset Management worth $107,757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Guardian Partners Inc. grew its stake in shares of Brookfield Asset Management by 0.5% in the third quarter. Guardian Partners Inc. now owns 331,290 shares of the financial services provider’s stock valued at $14,870,000 after buying an additional 1,561 shares in the last quarter. Kirr Marbach & Co. LLC IN raised its holdings in shares of Brookfield Asset Management by 2.2% during the 3rd quarter. Kirr Marbach & Co. LLC IN now owns 65,688 shares of the financial services provider’s stock valued at $2,928,000 after buying an additional 1,442 shares during the period. Nisa Investment Advisors LLC lifted its position in Brookfield Asset Management by 38.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,873 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 801 shares in the last quarter. Diversify Advisory Services LLC lifted its position in Brookfield Asset Management by 2.2% during the 3rd quarter. Diversify Advisory Services LLC now owns 24,403 shares of the financial services provider’s stock worth $1,122,000 after acquiring an additional 534 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Brookfield Asset Management by 18.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 276,777 shares of the financial services provider’s stock worth $12,339,000 after acquiring an additional 43,748 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Trading Up 0.2%

BAM opened at $46.04 on Thursday. The stock has a market capitalization of $75.43 billion, a PE ratio of 26.40, a P/E/G ratio of 1.94 and a beta of 1.31. The firm’s fifty day moving average price is $47.90 and its 200 day moving average price is $47.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. Brookfield Asset Management Ltd. has a 12-month low of $42.20 and a 12-month high of $56.37.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. As a group, research analysts expect that Brookfield Asset Management Ltd. will post 1.77 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were paid a dividend of $0.5025 per share. The ex-dividend date was Monday, August 31st. This represents a $2.01 annualized dividend and a yield of 4.4%. Brookfield Asset Management’s dividend payout ratio is presently 116.86%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BAM. Deutsche Bank Aktiengesellschaft upped their price target on Brookfield Asset Management from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. Piper Sandler set a $49.00 price objective on shares of Brookfield Asset Management and gave the company a “neutral” rating in a research note on Monday. Morgan Stanley set a $54.00 target price on shares of Brookfield Asset Management in a research report on Friday, October 16th. UBS Group reduced their target price on shares of Brookfield Asset Management from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Finally, Scotia upped their target price on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the company a “sector outperform” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.03.

About Brookfield Asset Management

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.