Plato Investment Management Ltd Has $53,000 Stock Holdings in Brookfield Asset Management Ltd. $BAM

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 trimmed its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 89.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,075 shares of the financial services provider's stock after selling 9,294 shares during the period. Plato Investment Management Ltd's holdings in Brookfield Asset Management were worth $53,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. ST Germain D J Co. Inc. acquired a new position in Brookfield Asset Management in the 1st quarter valued at about $26,000. Rossby Financial LCC acquired a new stake in shares of Brookfield Asset Management in the 1st quarter worth approximately $28,000. Truvestments Capital LLC grew its holdings in shares of Brookfield Asset Management by 85.5% in the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider's stock worth $45,000 after acquiring an additional 432 shares during the period. Larson Financial Group LLC lifted its stake in Brookfield Asset Management by 1,079.6% in the 1st quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock valued at $53,000 after buying an additional 1,004 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Brookfield Asset Management by 85.7% in the 1st quarter. Parallel Advisors LLC now owns 1,558 shares of the financial services provider's stock valued at $75,000 after buying an additional 719 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Wall Street Analyst Weigh In

BAM has been the topic of a number of recent analyst reports. Royal Bank Of Canada started coverage on Brookfield Asset Management in a research note on Wednesday, June 18th. They set an "outperform" rating and a $72.00 price target on the stock. CIBC raised their price objective on Brookfield Asset Management from $70.00 to $71.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Jefferies Financial Group raised their target price on Brookfield Asset Management from $55.00 to $62.00 and gave the company a "hold" rating in a research note on Wednesday, August 13th. National Bank Financial assumed coverage on Brookfield Asset Management in a research note on Tuesday, July 29th. They set an "outperform" rating and a $71.00 target price for the company. Finally, Bank of America downgraded Brookfield Asset Management from a "buy" rating to a "neutral" rating and set a $68.00 price target for the company. in a research note on Thursday, September 4th. Two research 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $63.52.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock traded up $1.49 during trading hours on Thursday, hitting $60.17. 680,267 shares of the stock were exchanged, compared to its average volume of 2,089,124. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25. The business's 50-day moving average is $60.00 and its two-hundred day moving average is $55.25. The stock has a market capitalization of $98.54 billion, a P/E ratio of 40.37, a P/E/G ratio of 2.14 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. Equities research 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 issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management's dividend payout ratio is 117.45%.

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.