Cortland Associates Inc. MO Sells 4,603 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Cortland Associates Inc. MO trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 574,776 shares of the financial services provider’s stock after selling 4,603 shares during the period. Brookfield Asset Management makes up approximately 3.3% of Cortland Associates Inc. MO’s holdings, making the stock its 15th largest holding. Cortland Associates Inc. MO’s holdings in Brookfield Asset Management were worth $27,181,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its stake in shares of Brookfield Asset Management by 98.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 385 shares in the last quarter. Continuum Advisory LLC increased its holdings in Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after buying an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake 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 buying an additional 758 shares in the last quarter. Richardson Financial Services Inc. boosted its position in shares of Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 755 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its stake in Brookfield Asset Management by 151.3% in the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 640 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.3 %

BAM opened at $53.19 on Monday. Brookfield Asset Management Ltd. has a 1-year low of $29.83 and a 1-year high of $54.20. The stock has a market capitalization of $23.63 billion, a PE ratio of 48.35, a PEG ratio of 2.55 and a beta of 1.41. The firm has a 50-day moving average price of $46.92 and a two-hundred day moving average price of $42.21.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The company had revenue of $916.00 million during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm earned $0.28 EPS. On average, research analysts predict that Brookfield Asset Management Ltd. will post 1.43 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 138.18%.

Wall Street Analysts Forecast Growth

BAM has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their price target on Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Scotiabank lifted their price objective on Brookfield Asset Management from $45.50 to $55.50 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, TD Securities upped their target price on shares of Brookfield Asset Management from $50.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.32.

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.