Virtu Financial LLC Reduces Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Virtu Financial LLC lessened its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 44.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,291 shares of the financial services provider’s stock after selling 3,373 shares during the quarter. Virtu Financial LLC’s holdings in Brookfield Asset Management were worth $203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Public Sector Pension Investment Board grew its stake in shares of Brookfield Asset Management by 0.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock valued at $2,201,000 after acquiring an additional 188 shares during the period. Pathstone Holdings LLC boosted its position in shares of Brookfield Asset Management by 1.0% in the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock worth $1,379,000 after purchasing an additional 278 shares during the period. Foundations Investment Advisors LLC increased its stake in shares of Brookfield Asset Management by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 315 shares in the last quarter. Continuum Advisory LLC increased its stake in shares of Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 329 shares in the last quarter. Finally, Procyon Advisors LLC raised its position in shares of Brookfield Asset Management by 4.2% during the 3rd quarter. Procyon Advisors LLC now owns 9,063 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 366 shares during the period. Institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group initiated coverage on Brookfield Asset Management in a research note on Monday. They issued a “buy” rating for the company. Wells Fargo & Company increased their target price on Brookfield Asset Management from $51.00 to $56.00 and gave the stock an “underweight” rating in a research report on Thursday, December 12th. Scotiabank lifted their target price on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Royal Bank of Canada upped their price target on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, TD Securities lifted their price objective on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $53.88.

Brookfield Asset Management Stock Down 7.0 %

Brookfield Asset Management stock opened at $53.80 on Thursday. Brookfield Asset Management Ltd. has a 52-week low of $37.19 and a 52-week high of $59.58. The company has a market cap of $22.58 billion, a price-to-earnings ratio of 47.61, a PEG ratio of 2.43 and a beta of 1.41. The firm’s fifty day moving average is $54.87 and its 200 day moving average is $46.17.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm 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 previous year, the business earned $0.35 EPS. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.83%. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

About Brookfield Asset Management

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.