Triasima Portfolio Management inc. Sells 35,990 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Triasima Portfolio Management inc. cut its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 555,528 shares of the financial services provider’s stock after selling 35,990 shares during the quarter. Brookfield Asset Management makes up approximately 1.9% of Triasima Portfolio Management inc.’s portfolio, making the stock its 19th biggest position. Triasima Portfolio Management inc. owned 0.13% of Brookfield Asset Management worth $21,138,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Partners Value Investments L.P. boosted its stake 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. Capital World Investors lifted its position in Brookfield Asset Management by 10.0% in 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 acquiring an additional 2,241,372 shares in the last quarter. TD Asset Management Inc increased its holdings in Brookfield Asset Management by 8.5% during the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after purchasing an additional 1,066,015 shares in the last quarter. FIL Ltd lifted its holdings in shares of Brookfield Asset Management by 66.1% in the fourth 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 in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock valued at $452,153,000 after acquiring an additional 186,765 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAM has been the subject of several analyst reports. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. TD Securities lifted their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. cut their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 price objective on the stock. Finally, CIBC raised their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $42.46.

Brookfield Asset Management Price Performance

Shares of BAM traded down $0.40 during midday trading on Friday, hitting $40.82. 1,113,327 shares of the company traded hands, compared to its average volume of 1,305,560. The stock has a 50-day moving average of $40.58 and a 200-day moving average of $40.19. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $44.38. The firm has a market cap of $18.11 billion, a P/E ratio of 37.80, a PEG ratio of 2.09 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $916.00 million during the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same period in the previous year, the business earned $0.28 earnings per share. Sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.42 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 3.72%. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

Brookfield Asset Management 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.