Blue Zone Wealth Advisors LLC Sells 177,296 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Blue Zone Wealth Advisors cut its Brookfield Asset Management stake by 93.6% in the third quarter, selling 177,296 shares and retaining 12,151 shares valued at approximately $542,000.
• Institutional investors own 68.41% of BAM, while analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $57.03.
• Brookfield Asset Management reported quarterly EPS of $0.44, slightly above estimates, on revenue of $1.49 billion. The company also maintains a quarterly dividend of $0.5025, equivalent to a 4.4% annualized yield.

Blue Zone Wealth Advisors LLC lowered its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 93.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,151 shares of the financial services provider's stock after selling 177,296 shares during the period. Blue Zone Wealth Advisors LLC's holdings in Brookfield Asset Management were worth $542,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BAM. Hanson & Doremus Investment Management increased its position in shares of Brookfield Asset Management by 19.3% in the first quarter. Hanson & Doremus Investment Management now owns 1,548 shares of the financial services provider's stock valued at $69,000 after acquiring an additional 250 shares during the period. Crescent Grove Advisors LLC increased its holdings in Brookfield Asset Management by 6.2% during the 1st quarter. Crescent Grove Advisors LLC now owns 5,100 shares of the financial services provider's stock valued at $227,000 after purchasing an additional 300 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Brookfield Asset Management by 22.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,674 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 304 shares during the period. NewEdge Wealth LLC increased its holdings in Brookfield Asset Management by 6.4% during the 1st quarter. NewEdge Wealth LLC now owns 5,739 shares of the financial services provider's stock valued at $255,000 after purchasing an additional 344 shares during the period. Finally, Allworth Financial LP lifted its holdings in Brookfield Asset Management by 16.0% in the 2nd quarter. Allworth Financial LP now owns 2,958 shares of the financial services provider's stock worth $133,000 after buying an additional 408 shares during the period. Hedge funds and other institutional investors own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BAM shares. Scotiabank reaffirmed an "outperform" rating and set a $59.00 target price on shares of Brookfield Asset Management in a research note on Thursday, August 6th. Weiss Ratings raised shares of Brookfield Asset Management from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Wells Fargo & Company assumed coverage on Brookfield Asset Management in a research report on Friday, October 2nd. They issued an "overweight" rating and a $41.00 price target for the company. UBS Group reduced their price objective on Brookfield Asset Management from $55.00 to $49.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 13th. Finally, Piper Sandler set a $49.00 price objective on Brookfield Asset Management and gave the company a "neutral" rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $57.03.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $45.21 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $74.07 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 1.87 and a beta of 1.31. Brookfield Asset Management Ltd. has a 1-year low of $42.20 and a 1-year high of $56.37. The company's 50-day moving average is $48.25 and its 200 day moving average is $47.75.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.47 billion. Research analysts forecast that Brookfield Asset Management Ltd. will post 1.78 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were given a $0.5025 dividend. This represents a $2.01 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, August 31st. Brookfield Asset Management's dividend payout ratio is 116.86%.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. NYSE: BAM is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.

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