Cumberland Partners Ltd Has $1.21 Million Stock Holdings in Brookfield Asset Management Ltd. $BAM

Cumberland Partners Ltd trimmed its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 72.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,310 shares of the financial services provider’s stock after selling 71,205 shares during the quarter. Cumberland Partners Ltd’s holdings in Brookfield Asset Management were worth $1,210,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BAM. Entropy Technologies LP raised its holdings in Brookfield Asset Management by 31.3% during the 1st quarter. Entropy Technologies LP now owns 80,257 shares of the financial services provider’s stock worth $3,567,000 after buying an additional 19,133 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Brookfield Asset Management by 17.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 942,000 shares of the financial services provider’s stock valued at $41,867,000 after buying an additional 142,000 shares during the period. Renaissance Technologies LLC increased its position in shares of Brookfield Asset Management by 283.7% during the first quarter. Renaissance Technologies LLC now owns 1,103,325 shares of the financial services provider’s stock worth $49,043,000 after acquiring an additional 815,800 shares in the last quarter. Sei Investments Co. increased its position in shares of Brookfield Asset Management by 63.3% during the first quarter. Sei Investments Co. now owns 195,489 shares of the financial services provider’s stock worth $8,689,000 after acquiring an additional 75,814 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Brookfield Asset Management by 26.5% during the first quarter. Cetera Investment Advisers now owns 64,834 shares of the financial services provider’s stock worth $2,875,000 after acquiring an additional 13,597 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BAM. Canadian Imperial Bank of Commerce set a $62.50 target price on shares of Brookfield Asset Management in a research note on Monday, May 11th. The Goldman Sachs Group reduced their price objective on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings downgraded Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. JPMorgan Chase & Co. dropped their target price on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Finally, Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Hold” and an average target price of $60.03.

Brookfield Asset Management Trading Up 1.4%

Brookfield Asset Management stock opened at $46.35 on Friday. The firm has a 50-day moving average of $47.00 and a 200-day moving average of $47.87. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $75.93 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 1.86 and a beta of 1.29.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. On average, equities analysts expect that Brookfield Asset Management Ltd. will post 1.76 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were given a dividend of $0.5025 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.01 annualized dividend and a dividend yield of 4.3%. Brookfield Asset Management’s payout ratio is 130.52%.

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.