Brookfield Asset Management Ltd. $BAM Shares Sold by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. lowered its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 623,286 shares of the financial services provider’s stock after selling 15,127 shares during the period. Brookfield Asset Management comprises approximately 1.0% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 28th biggest position. Mufg Securities Canada LTD.’s holdings in Brookfield Asset Management were worth $35,466,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. PDS Planning Inc raised its holdings in Brookfield Asset Management by 4.8% in the 3rd 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 period. Truist Financial Corp increased its position in shares of 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 in the last quarter. Yousif Capital Management LLC increased its position in shares of Brookfield Asset Management by 2.1% in the third quarter. Yousif Capital Management LLC now owns 11,010 shares of the financial services provider’s stock valued at $627,000 after buying an additional 226 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Brookfield Asset Management by 38.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock worth $48,000 after buying an additional 233 shares during the period. Finally, Wulff Hansen & CO. lifted its position in shares of Brookfield Asset Management by 3.2% during the 3rd quarter. Wulff Hansen & CO. now owns 7,830 shares of the financial services provider’s stock valued at $446,000 after buying an additional 240 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $46.68 on Friday. The company has a market capitalization of $76.47 billion, a P/E ratio of 30.71, a P/E/G ratio of 1.63 and a beta of 1.40. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. The stock’s fifty day moving average is $51.67 and its two-hundred day moving average is $54.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The firm had revenue of $1.39 billion for 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%. Equities analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be given a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, February 27th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s dividend payout ratio is 115.13%.

Analyst Ratings Changes

Several brokerages recently commented on BAM. JPMorgan Chase & Co. boosted their price target on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Scotiabank set a $64.00 target price on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Thursday, February 5th. UBS Group set a $52.00 price target on shares of Brookfield Asset Management in a research report on Friday, February 20th. The Goldman Sachs Group lowered their price objective on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Brookfield Asset Management in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.65.

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.