Fmr LLC Lowers Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Fmr LLC lessened its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,198,643 shares of the financial services provider’s stock after selling 1,504,454 shares during the period. Fmr LLC owned approximately 4.33% of Brookfield Asset Management worth $907,804,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. CWM LLC grew its position in shares of Brookfield Asset Management by 12.2% in the 2nd quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock worth $93,000 after buying an additional 267 shares during the last quarter. Pathstone Holdings LLC boosted its holdings in 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 valued at $1,379,000 after acquiring an additional 278 shares in the last quarter. Continuum Advisory LLC increased its position in Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 285 shares during the period. Foundations Investment Advisors LLC raised its holdings in Brookfield Asset Management by 5.0% in the 3rd 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. Finally, Procyon Advisors LLC lifted its position in shares of Brookfield Asset Management by 4.2% in the 3rd quarter. Procyon Advisors LLC now owns 9,063 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 366 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 1.0 %

BAM stock opened at $57.26 on Thursday. The stock has a market capitalization of $25.36 billion, a PE ratio of 50.67, a price-to-earnings-growth ratio of 2.31 and a beta of 1.42. The stock’s 50 day simple moving average is $51.84 and its 200 day simple moving average is $44.33. Brookfield Asset Management Ltd. has a 12-month low of $33.45 and a 12-month high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm posted $0.35 earnings per share. On average, research analysts predict that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued 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 dividend yield of 2.65%. Brookfield Asset Management’s payout ratio is 134.51%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BAM shares. Scotiabank boosted their price target on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods increased their target price on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. BMO Capital Markets lifted their price target on 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. Wells Fargo & Company increased their price objective on Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management has an average rating of “Hold” and an average price target of $53.46.

Brookfield Asset Management Company 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.