Brookfield Asset Management Ltd. $BAM Shares Sold by Cooke & Bieler LP

Cooke & Bieler LP cut its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 21.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,417,157 shares of the financial services provider’s stock after selling 646,893 shares during the quarter. Brookfield Asset Management accounts for about 1.6% of Cooke & Bieler LP’s investment portfolio, making the stock its 19th largest holding. Cooke & Bieler LP’s holdings in Brookfield Asset Management were worth $107,757,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont acquired a new position in Brookfield Asset Management in the second quarter worth $25,000. Alpine Bank Wealth Management bought a new stake in Brookfield Asset Management during the third quarter valued at $26,000. Compass Financial Management LLC acquired a new stake in shares of Brookfield Asset Management during the second quarter worth $27,000. Allied Private Wealth LLC acquired a new stake in shares of Brookfield Asset Management during the second quarter worth $40,000. Finally, Root Financial Partners LLC lifted its position in shares of Brookfield Asset Management by 184.5% in the 1st quarter. Root Financial Partners LLC now owns 1,283 shares of the financial services provider’s stock worth $57,000 after buying an additional 832 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BAM shares. Piper Sandler set a $49.00 price target on shares of Brookfield Asset Management and gave the company a “neutral” rating in a report on Monday. Weiss Ratings raised shares of Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Scotiabank reissued an “outperform” rating and issued a $59.00 target price on shares of Brookfield Asset Management in a report on Thursday, August 6th. Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Finally, Morgan Stanley set a $54.00 target price on Brookfield Asset Management in a research note on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.03.

Brookfield Asset Management Trading Up 0.2%

Shares of NYSE:BAM opened at $46.04 on Thursday. The company has a market cap of $75.43 billion, a PE ratio of 26.40, a P/E/G ratio of 1.94 and a beta of 1.31. The company’s 50-day moving average price is $47.90 and its 200 day moving average price is $47.77. Brookfield Asset Management Ltd. has a fifty-two week low of $42.20 and a fifty-two week high of $56.37. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.77 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were issued a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, August 31st. Brookfield Asset Management’s payout ratio is 116.86%.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.