Brookfield Asset Management Ltd. $BAM Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. reduced its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 34.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,504 shares of the financial services provider's stock after selling 10,915 shares during the quarter. Baird Financial Group Inc.'s holdings in Brookfield Asset Management were worth $993,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BAM. The Manufacturers Life Insurance Company boosted its holdings in shares of Brookfield Asset Management by 58.9% in the first quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider's stock worth $163,354,000 after buying an additional 1,246,011 shares during the last quarter. Magnetar Financial LLC purchased a new position in shares of Brookfield Asset Management in the first quarter worth approximately $539,000. Canada Pension Plan Investment Board boosted its holdings in shares of Brookfield Asset Management by 9.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,096,412 shares of the financial services provider's stock worth $53,083,000 after buying an additional 97,445 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Brookfield Asset Management in the first quarter worth approximately $1,728,000. Finally, Lansforsakringar Fondforvaltning AB publ boosted its holdings in shares of Brookfield Asset Management by 1.7% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 78,038 shares of the financial services provider's stock worth $3,777,000 after buying an additional 1,312 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Piper Sandler decreased their target price on shares of Brookfield Asset Management from $65.00 to $60.00 and set a "neutral" rating on the stock in a research note on Thursday. Scotiabank raised their target price on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the stock a "sector outperform" rating in a research note on Thursday, August 7th. Morgan Stanley raised their target price on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Bank of America cut shares of Brookfield Asset Management from a "buy" rating to a "neutral" rating and set a $68.00 price objective on the stock. in a research report on Thursday, September 4th. Finally, National Bank Financial assumed coverage on shares of Brookfield Asset Management in a research report on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.52.

Brookfield Asset Management Trading Down 0.1%

Shares of BAM traded down $0.05 during trading hours on Friday, reaching $56.68. 1,694,761 shares of the company traded hands, compared to its average volume of 1,898,762. The firm has a market cap of $92.83 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 2.07 and a beta of 1.44. Brookfield Asset Management Ltd. has a 12-month low of $41.78 and a 12-month high of $64.10. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. The stock's fifty day moving average price is $59.83 and its 200 day moving average price is $55.20.

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

Brookfield Asset Management Announces Dividend

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

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.