Brookfield Asset Management Ltd. $BAM Holdings Trimmed by Plato Investment Management Ltd

Key Points

• Plato Investment Management Ltd. significantly reduced its stake in Brookfield Asset Management by 89.6% in the first quarter, leading to a total ownership of just 1,075 shares valued at $53,000.
• Brookfield Asset Management reported $0.38 earnings per share for the latest quarter, missed expectations by $0.01, with total revenue of $1.11 billion compared to an expectation of $1.29 billion.
• The company declared a quarterly dividend of $0.4375 per share, resulting in an annualized dividend of $1.75 and a dividend yield of 3.1%.

Plato Investment Management Ltd lowered its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 89.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,075 shares of the financial services provider's stock after selling 9,294 shares during the quarter. Plato Investment Management Ltd's holdings in Brookfield Asset Management were worth $53,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BAM. ST Germain D J Co. Inc. purchased a new stake in shares of Brookfield Asset Management during the first quarter valued at $26,000. Rossby Financial LCC purchased a new stake in shares of Brookfield Asset Management during the first quarter valued at $28,000. Truvestments Capital LLC lifted its holdings in shares of Brookfield Asset Management by 85.5% during the first quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 432 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Brookfield Asset Management by 1,079.6% during the first quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 1,004 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Brookfield Asset Management by 85.7% during the first quarter. Parallel Advisors LLC now owns 1,558 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 719 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Down 0.1%

Shares of Brookfield Asset Management stock opened at $56.68 on Friday. The stock has a 50-day moving average price of $59.83 and a 200 day moving average price of $55.22. The company has a market cap of $92.83 billion, a P/E ratio of 38.04, a P/E/G ratio of 2.07 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.29 billion. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.1%. Brookfield Asset Management's dividend payout ratio (DPR) is 117.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank Of Canada assumed coverage on Brookfield Asset Management in a report on Wednesday, June 18th. They set an "outperform" rating and a $72.00 target price for the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $58.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, August 7th. National Bankshares set a $71.00 price objective on Brookfield Asset Management and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. CIBC increased their price objective on Brookfield Asset Management from $70.00 to $71.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Piper Sandler reduced their price objective on Brookfield Asset Management from $65.00 to $60.00 and set a "neutral" rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.52.

About Brookfield Asset Management

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.

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