Brookfield Asset Management Ltd. (NYSE:BAM) Stake Reduced by Cortland Associates Inc. MO

Cortland Associates Inc. MO trimmed its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 574,776 shares of the financial services provider’s stock after selling 4,603 shares during the quarter. Brookfield Asset Management makes up about 3.3% of Cortland Associates Inc. MO’s investment portfolio, making the stock its 15th largest holding. Cortland Associates Inc. MO owned about 0.13% of Brookfield Asset Management worth $27,181,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Nova Scotia Trust Co. boosted its stake in shares of Brookfield Asset Management by 4.4% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 263 shares in the last quarter. CWM LLC increased its stake in 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 purchasing an additional 267 shares in the last quarter. Choate Investment Advisors raised its holdings in Brookfield Asset Management by 3.3% during the 1st quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock worth $374,000 after buying an additional 285 shares during the period. Continuum Advisory LLC lifted its stake in Brookfield Asset Management by 57.6% during the second 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 in the last quarter. Finally, Foundations Investment Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock worth $315,000 after buying an additional 315 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of recent analyst reports. CIBC boosted their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a report on Friday, July 19th. Jefferies Financial Group began coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price for the company. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. BMO Capital Markets raised their price objective on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th. Finally, Wells Fargo & Company lifted their target price on Brookfield Asset Management from $42.00 to $48.00 and gave the company an “underweight” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.32.

Brookfield Asset Management Trading Up 0.3 %

Brookfield Asset Management stock opened at $53.19 on Monday. The company has a market capitalization of $23.63 billion, a P/E ratio of 48.35, a P/E/G ratio of 2.55 and a beta of 1.41. Brookfield Asset Management Ltd. has a 1-year low of $29.83 and a 1-year high of $54.20. The firm’s fifty day simple moving average is $46.92 and its 200-day simple moving average is $42.21.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company posted $0.28 EPS. On average, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued 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 is currently 138.18%.

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.