Brookfield Asset Management Ltd. $BAM is Partners Value Investments L.P.'s 2nd Largest Position

Key Points

• Partners Value Investments trimmed its Brookfield Asset Management stake by 3.9% in the first quarter, selling 1.2 million shares. It still owns 29.6 million shares worth approximately $1.32 billion, representing 14.1% of its portfolio and making BAM its second-largest holding.
• Institutional ownership remains high at 68.41%, with several investors increasing their positions, including State Street, which substantially expanded its stake during the second quarter.
• Analysts have a consensus “Hold” rating and an average price target of $60.03, compared with BAM’s latest price of $46.35. The company reported quarterly EPS of $0.43, ahead of estimates, and pays a $2.01 annualized dividend yielding about 4.3%.

Partners Value Investments L.P. trimmed its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,588,407 shares of the financial services provider's stock after selling 1,201,157 shares during the period. Brookfield Asset Management comprises about 14.1% of Partners Value Investments L.P.'s holdings, making the stock its 2nd biggest position. Partners Value Investments L.P. owned about 1.81% of Brookfield Asset Management worth $1,315,205,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BAM. AQR Capital Management LLC acquired a new position in Brookfield Asset Management during the first quarter worth $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Brookfield Asset Management by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider's stock valued at $12,648,000 after purchasing an additional 24,013 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Brookfield Asset Management by 24.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider's stock valued at $139,000 after buying an additional 497 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Brookfield Asset Management by 17.6% during the 2nd quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider's stock worth $1,916,000 after buying an additional 5,184 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Brookfield Asset Management by 11,172.2% during the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider's stock worth $194,845,000 after buying an additional 3,493,431 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Morgan Stanley set a $56.00 price objective on shares of Brookfield Asset Management and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. The Goldman Sachs Group reduced their price target on shares of Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Canadian Imperial Bank of Commerce set a $62.50 price target on shares of Brookfield Asset Management in a research report on Monday, May 11th. Scotiabank reissued an "outperform" rating and set a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. Finally, Royal Bank Of Canada cut their price objective on Brookfield Asset Management from $74.00 to $65.00 and set an "outperform" rating for the company in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of "Hold" and an average target price of $60.03.

Brookfield Asset Management Trading Up 0.0%

Shares of Brookfield Asset Management stock opened at $46.35 on Monday. Brookfield Asset Management Ltd. has a fifty-two week low of $42.20 and a fifty-two week high of $64.10. The business's fifty day moving average is $47.00 and its two-hundred day moving average is $47.82. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The firm has a market cap of $75.93 billion, a PE ratio of 30.10, a P/E/G ratio of 1.89 and a beta of 1.29.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.76 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were issued a $0.5025 dividend. The ex-dividend date was Friday, May 29th. This represents a $2.01 annualized dividend and a yield of 4.3%. Brookfield Asset Management's payout ratio is 130.52%.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company's products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.

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