Brookfield Asset Management Ltd. $BAM Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lessened its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,177,123 shares of the financial services provider’s stock after selling 168,416 shares during the period. William Blair Investment Management LLC’s holdings in Brookfield Asset Management were worth $180,905,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of BAM. Cumberland Partners Ltd boosted its stake in Brookfield Asset Management by 78.0% during the third quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider’s stock worth $7,168,000 after buying an additional 55,225 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Brookfield Asset Management by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock worth $991,677,000 after acquiring an additional 253,789 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of Brookfield Asset Management by 65.6% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider’s stock worth $14,463,000 after acquiring an additional 100,713 shares during the period. New York State Common Retirement Fund boosted its position in shares of Brookfield Asset Management by 18.5% during the 3rd quarter. New York State Common Retirement Fund now owns 465,600 shares of the financial services provider’s stock valued at $26,511,000 after acquiring an additional 72,600 shares during the last quarter. Finally, Intact Investment Management Inc. grew its holdings in shares of Brookfield Asset Management by 127.5% in the third quarter. Intact Investment Management Inc. now owns 590,560 shares of the financial services provider’s stock valued at $33,612,000 after purchasing an additional 330,970 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Down 4.2%

NYSE:BAM opened at $46.68 on Friday. 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. The stock has a market capitalization of $76.47 billion, a price-to-earnings ratio of 30.71, a price-to-earnings-growth 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 (NYSE:BAM) (TSE:BAM.A) last posted 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. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%.The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. Research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS 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 paid a $0.5025 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 annualized dividend and a dividend yield of 4.3%. Brookfield Asset Management’s payout ratio is 115.13%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, December 22nd. Zacks Research upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Royal Bank Of Canada set a $74.00 target price on Brookfield Asset Management and gave the company an “outperform” rating in a research report on Monday, December 15th. Loop Capital set a $60.00 price target on Brookfield Asset Management in a research note on Tuesday, January 6th. Finally, Morgan Stanley set a $63.00 price objective on Brookfield Asset Management in a research report on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.65.

Brookfield Asset Management 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.