Sanibel Captiva Trust Company Inc. Has $4.66 Million Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Sanibel Captiva Trust Company Inc. decreased its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 98,627 shares of the financial services provider’s stock after selling 3,418 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Brookfield Asset Management were worth $4,664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of BAM. Partners Value Investments L.P. lifted its holdings in Brookfield Asset Management by 0.9% during the fourth quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock worth $1,237,556,000 after acquiring an additional 280,098 shares in the last quarter. TD Asset Management Inc increased its position in shares of Brookfield Asset Management by 8.5% in the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after acquiring an additional 1,066,015 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after acquiring an additional 2,205,040 shares during the last quarter. FIL Ltd increased its position in Brookfield Asset Management by 66.1% during the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock worth $454,424,000 after buying an additional 4,501,410 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Brookfield Asset Management by 1.8% during the first quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock worth $452,153,000 after buying an additional 186,765 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $47.84 on Friday. The firm has a fifty day moving average price of $43.19 and a two-hundred day moving average price of $40.96. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $48.15. The company has a market cap of $21.23 billion, a price-to-earnings ratio of 44.30, a PEG ratio of 2.36 and a beta of 1.56.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted $0.28 earnings per share. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.42 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

Wall Street Analyst Weigh In

Several research firms have recently commented on BAM. Wells Fargo & Company upped their target price on Brookfield Asset Management from $42.00 to $48.00 and gave the company an “underweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group increased their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Scotiabank dropped their price target on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a research report on Thursday, August 8th. Finally, CIBC raised their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research report on Friday, July 19th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.13.

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.