Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Capital International Investors

Capital International Investors trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,197,451 shares of the financial services provider’s stock after selling 129,542 shares during the period. Capital International Investors owned 3.21% of Brookfield Asset Management worth $596,577,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BAM. American Century Companies Inc. raised its position in shares of Brookfield Asset Management by 1.0% during the 3rd quarter. American Century Companies Inc. now owns 217,536 shares of the financial services provider’s stock worth $7,249,000 after buying an additional 2,135 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Brookfield Asset Management by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 10,402,885 shares of the financial services provider’s stock worth $346,832,000 after buying an additional 120,714 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Brookfield Asset Management by 40.3% during the 4th quarter. Raymond James Trust N.A. now owns 8,979 shares of the financial services provider’s stock worth $361,000 after buying an additional 2,577 shares in the last quarter. Mutual Advisors LLC bought a new stake in shares of Brookfield Asset Management during the 4th quarter worth about $808,000. Finally, Procyon Advisors LLC raised its position in shares of Brookfield Asset Management by 5.9% during the 4th quarter. Procyon Advisors LLC now owns 8,291 shares of the financial services provider’s stock worth $333,000 after buying an additional 461 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Scotiabank dropped their price target on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a research report on Thursday, May 9th. Royal Bank of Canada boosted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. initiated coverage on shares of Brookfield Asset Management in a report on Wednesday, May 15th. They issued a “neutral” rating and a $41.00 target price on the stock. Finally, CIBC boosted their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Brookfield Asset Management presently has an average rating of “Hold” and a consensus target price of $42.32.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock traded up $0.64 on Friday, hitting $42.10. The stock had a trading volume of 633,641 shares, compared to its average volume of 1,349,007. The firm has a market capitalization of $18.68 billion, a P/E ratio of 38.98, a PEG ratio of 1.91 and a beta of 1.62. The stock has a 50 day moving average of $39.36 and a 200 day moving average of $39.97. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The business had revenue of $884.00 million for the quarter. Equities analysts expect that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were given a $0.38 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.52 dividend on an annualized basis and a yield of 3.61%. Brookfield Asset Management’s payout ratio is 140.74%.

Brookfield Asset Management Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.