Toronto Dominion Bank Decreases Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Toronto Dominion Bank reduced its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 49.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 792,338 shares of the financial services provider’s stock after selling 768,097 shares during the period. Toronto Dominion Bank owned 0.18% of Brookfield Asset Management worth $33,294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BAM. YHB Investment Advisors Inc. bought a new stake in shares of Brookfield Asset Management in the 1st quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 758 shares during the period. Quent Capital LLC increased its holdings in shares of Brookfield Asset Management by 62.4% in the 1st quarter. Quent Capital LLC now owns 1,132 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 435 shares during the period. Bfsg LLC purchased a new position in shares of Brookfield Asset Management in the 4th quarter valued at $51,000. Finally, Headlands Technologies LLC purchased a new position in shares of Brookfield Asset Management in the 1st quarter valued at $53,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock traded up $0.64 on Friday, hitting $42.10. The company’s stock had a trading volume of 633,641 shares, compared to its average volume of 1,349,007. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $43.00. The firm has a fifty day moving average price of $39.36 and a 200-day moving average price of $39.97. The company has a market capitalization of $18.68 billion, a price-to-earnings ratio of 38.98, a price-to-earnings-growth ratio of 1.91 and a beta of 1.62.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The company had revenue of $884.00 million during the quarter. As a group, analysts forecast that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.52 annualized dividend and a yield of 3.61%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 140.74%.

Analyst Ratings Changes

Several research analysts recently weighed in on BAM shares. Royal Bank of Canada boosted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. CIBC boosted their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. started coverage on Brookfield Asset Management in a research note on Wednesday, May 15th. They set a “neutral” rating and a $41.00 target price on the stock. Finally, Scotiabank dropped their target price on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a research note on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Hold” and a consensus target price of $42.32.

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.