Brookfield Asset Management Ltd. $BAM Shares Sold by Capital Group Private Client Services Inc.

Key Points

• Capital Group Private Client Services cut its stake in Brookfield Asset Management by 77.3%, selling 53,714 shares and leaving 15,809 shares worth about $900,000 at the end of the quarter.
• Brookfield raised its quarterly dividend to $0.5025 (annualized $2.01), producing a ~4.4% yield while the dividend payout ratio stands at roughly 132.2%.
• The stock has a market cap of about $74.17 billion and a P/E of ~29.8; analysts' consensus is a "Moderate Buy" with an average target price near $63.65 and mixed individual ratings.

Capital Group Private Client Services Inc. cut its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 77.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,809 shares of the financial services provider's stock after selling 53,714 shares during the period. Capital Group Private Client Services Inc.'s holdings in Brookfield Asset Management were worth $900,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC raised its stake in shares of Brookfield Asset Management by 559.5% in the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider's stock worth $29,000 after buying an additional 442 shares in the last quarter. Sagard Holdings Management Inc. bought a new stake in Brookfield Asset Management in the second quarter worth about $39,000. Assetmark Inc. lifted its holdings in Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 395 shares during the last quarter. Cary Street Partners Financial LLC lifted its holdings in Brookfield Asset Management by 227.5% in the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 562 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Brookfield Asset Management by 93.3% during the 3rd quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 401 shares in the last quarter. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $45.28 on Wednesday. The stock has a market cap of $74.17 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 1.62 and a beta of 1.42. The business has a fifty day simple moving average of $50.72 and a 200-day simple moving average of $53.64. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.05. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%. On average, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a $0.5025 dividend. The ex-dividend date is Friday, February 27th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.4%. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.44. Brookfield Asset Management's dividend payout ratio is currently 132.24%.

Analyst Ratings Changes

BAM has been the subject of several recent research reports. BMO Capital Markets raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 5th. Royal Bank Of Canada set a $74.00 price target on Brookfield Asset Management and gave the company an "outperform" rating in a report on Monday, December 15th. Scotiabank set a $64.00 price objective on Brookfield Asset Management and gave the company an "outperform" rating in a research report on Thursday, February 5th. Loop Capital set a $60.00 price objective on Brookfield Asset Management in a research note on Tuesday, January 6th. Finally, The Goldman Sachs Group decreased their target price on Brookfield Asset Management from $67.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Brookfield Asset Management has an average rating of "Moderate Buy" and an average target price of $63.65.

Brookfield Asset Management Company Profile

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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