Bruni J V & Co. Co. Cuts Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Bruni J V & Co. Co. reduced its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 379,540 shares of the financial services provider’s stock after selling 5,791 shares during the period. Brookfield Asset Management accounts for about 2.0% of Bruni J V & Co. Co.’s holdings, making the stock its 23rd biggest position. Bruni J V & Co. Co. owned approximately 0.09% of Brookfield Asset Management worth $17,948,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BAM. National Bank of Canada FI lifted its holdings in Brookfield Asset Management by 15.5% during the first quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock worth $31,742,000 after acquiring an additional 107,245 shares during the period. Confluence Investment Management LLC boosted its stake in Brookfield Asset Management by 382.6% in the second quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock valued at $3,420,000 after acquiring an additional 71,263 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Brookfield Asset Management during the 1st quarter valued at approximately $3,014,000. Intact Investment Management Inc. purchased a new stake in shares of Brookfield Asset Management during the 2nd quarter worth approximately $4,825,000. Finally, CIBC Asset Management Inc raised its stake in shares of Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after buying an additional 370,383 shares during the period. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Down 0.5 %

NYSE:BAM opened at $55.47 on Tuesday. Brookfield Asset Management Ltd. has a 52 week low of $33.06 and a 52 week high of $58.53. The company’s 50 day moving average price is $50.24 and its 200-day moving average price is $43.55. The stock has a market cap of $24.57 billion, a price-to-earnings ratio of 49.09, a PEG ratio of 2.33 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.74%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BAM shares. BMO Capital Markets boosted their price target on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods lifted their price target on Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada upped their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Wells Fargo & Company increased their target price on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the company an “underweight” rating in a report on Tuesday, November 5th. Finally, Scotiabank lifted their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $52.54.

Brookfield Asset Management Profile

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.