Mn Services Vermogensbeheer B.V. Sells 4,000 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Mn Services Vermogensbeheer B.V. lowered its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,800 shares of the financial services provider’s stock after selling 4,000 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Brookfield Asset Management were worth $5,245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Brookfield Asset Management during the 4th quarter valued at $239,421,000. FIL Ltd raised its stake in shares of Brookfield Asset Management by 66.1% during the 4th quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock valued at $454,424,000 after purchasing an additional 4,501,410 shares during the period. Beutel Goodman & Co Ltd. lifted its holdings in Brookfield Asset Management by 114.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock worth $279,387,000 after purchasing an additional 3,695,774 shares in the last quarter. TD Asset Management Inc boosted its stake in Brookfield Asset Management by 29.2% in the 4th quarter. TD Asset Management Inc now owns 11,498,183 shares of the financial services provider’s stock worth $464,078,000 after purchasing an additional 2,595,793 shares during the period. Finally, Capital World Investors grew its holdings in Brookfield Asset Management by 10.0% during the 4th quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock valued at $986,656,000 after buying an additional 2,241,372 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

NYSE:BAM traded up $1.51 during mid-day trading on Friday, reaching $41.59. The stock had a trading volume of 614,794 shares, compared to its average volume of 1,307,920. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $44.38. The stock has a market capitalization of $18.46 billion, a P/E ratio of 38.51, a P/E/G ratio of 1.95 and a beta of 1.57. The firm has a 50 day moving average price of $39.99 and a two-hundred day moving average price of $40.14.

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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The company had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. During the same period last year, the business posted $0.28 earnings per share. Research analysts forecast 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 Friday, September 27th. Shareholders of record on Friday, August 30th will be given a $0.38 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.52 annualized dividend and a yield of 3.65%. Brookfield Asset Management’s payout ratio is currently 140.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BAM shares. Royal Bank of Canada increased their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. 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 report on Friday, July 19th. Scotiabank decreased 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 report on Thursday, August 8th. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Finally, TD Securities upped their target price on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and a consensus price target of $42.46.

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.