Marathon Asset Management Ltd Sells 8,378 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Marathon Asset Management Ltd trimmed its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 420,232 shares of the financial services provider’s stock after selling 8,378 shares during the period. Marathon Asset Management Ltd owned 0.09% of Brookfield Asset Management worth $19,894,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. National Bank of Canada FI boosted its holdings in Brookfield Asset Management by 15.5% in the first quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock worth $31,742,000 after purchasing an additional 107,245 shares in the last quarter. Confluence Investment Management LLC increased its holdings in shares of Brookfield Asset Management by 382.6% during the 2nd quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock valued at $3,420,000 after acquiring an additional 71,263 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Brookfield Asset Management in the first quarter valued at approximately $3,014,000. Intact Investment Management Inc. bought a new position in Brookfield Asset Management in the 2nd quarter worth $4,825,000. Finally, Pitcairn Co. bought a new stake in Brookfield Asset Management during the first quarter valued at about $525,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

BAM opened at $51.05 on Friday. The business’s 50-day moving average price is $44.29 and its two-hundred day moving average price is $41.28. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $51.40. The company has a market capitalization of $22.65 billion, a price-to-earnings ratio of 47.27, a P/E/G ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data 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 business had revenue of $916.00 million during the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same period in the prior year, the firm earned $0.28 EPS. Sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

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 $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Asset Management’s payout ratio is 140.74%.

Analysts Set New Price Targets

BAM has been the topic of several research analyst reports. CIBC raised their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. Bank of America boosted their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Scotiabank lowered their price objective on 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, Wells Fargo & Company raised their target price on Brookfield Asset Management from $42.00 to $48.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.41.

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.