Triasima Portfolio Management inc. Decreases Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Triasima Portfolio Management inc. lessened its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 6.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 555,528 shares of the financial services provider’s stock after selling 35,990 shares during the quarter. Brookfield Asset Management makes up approximately 1.9% of Triasima Portfolio Management inc.’s portfolio, making the stock its 19th biggest position. Triasima Portfolio Management inc.’s holdings in Brookfield Asset Management were worth $21,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in BAM. Natixis Advisors L.P. increased its holdings in Brookfield Asset Management by 8.0% during the 4th quarter. Natixis Advisors L.P. now owns 55,203 shares of the financial services provider’s stock valued at $2,217,000 after purchasing an additional 4,067 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in shares of Brookfield Asset Management during the fourth quarter valued at approximately $202,000. M&T Bank Corp lifted its stake in Brookfield Asset Management by 12.2% in the fourth quarter. M&T Bank Corp now owns 24,646 shares of the financial services provider’s stock worth $990,000 after acquiring an additional 2,686 shares during the period. Metis Global Partners LLC lifted its stake in Brookfield Asset Management by 7.1% in the fourth quarter. Metis Global Partners LLC now owns 12,201 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 813 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in Brookfield Asset Management by 14.7% in the fourth quarter. Private Advisor Group LLC now owns 12,511 shares of the financial services provider’s stock valued at $503,000 after acquiring an additional 1,599 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock traded down $0.40 during mid-day trading on Friday, reaching $40.82. The stock had a trading volume of 1,113,327 shares, compared to its average volume of 1,305,560. The company has a market capitalization of $18.11 billion, a price-to-earnings ratio of 37.80, a PEG ratio of 2.09 and a beta of 1.56. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $44.38. The company has a 50-day moving average price of $40.58 and a two-hundred day moving average price of $40.19.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $916.00 million for the quarter, compared to analysts’ expectations of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same quarter in the previous year, the company earned $0.28 EPS. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.42 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BAM shares. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Scotiabank decreased their target price on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a research report on Thursday, August 8th. CIBC lifted their price target on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research report on Friday, July 19th. Finally, Jefferies Financial Group initiated coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $42.46.

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.