Private Management Group Inc. Sells 491 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Private Management Group Inc. trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,798 shares of the financial services provider’s stock after selling 491 shares during the period. Private Management Group Inc.’s holdings in Brookfield Asset Management were worth $3,253,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE increased its stake in Brookfield Asset Management by 5.2% in the 3rd quarter. US Bancorp DE now owns 15,004 shares of the financial services provider’s stock worth $710,000 after acquiring an additional 736 shares during the last quarter. Diversify Wealth Management LLC grew its position in Brookfield Asset Management by 11.1% in the 3rd quarter. Diversify Wealth Management LLC now owns 14,971 shares of the financial services provider’s stock valued at $758,000 after acquiring an additional 1,497 shares during the last quarter. Smith Salley Wealth Management grew its position in Brookfield Asset Management by 2.9% in the 3rd quarter. Smith Salley Wealth Management now owns 110,764 shares of the financial services provider’s stock valued at $5,238,000 after acquiring an additional 3,155 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Brookfield Asset Management by 3.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,234 shares of the financial services provider’s stock valued at $1,855,000 after acquiring an additional 1,309 shares during the last quarter. Finally, Forsta AP Fonden lifted its holdings in shares of Brookfield Asset Management by 0.4% in the 3rd quarter. Forsta AP Fonden now owns 214,200 shares of the financial services provider’s stock worth $10,138,000 after buying an additional 800 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Up 0.3 %

Shares of BAM stock opened at $53.19 on Friday. Brookfield Asset Management Ltd. has a 12-month low of $29.83 and a 12-month high of $54.20. The company has a market cap of $23.63 billion, a price-to-earnings ratio of 48.35, a price-to-earnings-growth ratio of 2.58 and a beta of 1.56. The stock has a 50 day simple moving average of $46.92 and a 200-day simple moving average of $42.19.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The business had revenue of $916.00 million for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business earned $0.28 EPS. On average, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a $0.38 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 2.86%. Brookfield Asset Management’s dividend payout ratio (DPR) is 138.18%.

Analyst Ratings Changes

BAM has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. CIBC upped their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their price objective on Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. TD Securities lifted their price target on Brookfield Asset Management from $50.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, Bank of America raised their price objective on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $48.32.

About Brookfield Asset Management

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.