Brookfield Asset Management Ltd. $BAM Shares Sold by Capital International Inc. CA

Key Points

• Capital International Inc. CA cut its Brookfield Asset Management stake by 18.8% in the fourth quarter, selling 73,115 shares and leaving it with 315,509 shares worth about $16.53 million.
• Other major institutions remained bullish, with firms like Vanguard, TD Asset Management, Principal Financial Group, Norges Bank, and CIBC Asset Management either adding to or initiating positions; institutional ownership stands at 68.41%.
• Brookfield recently beat quarterly EPS estimates at $0.43 vs. $0.41, and it declared a quarterly dividend of $0.5025 per share to be paid June 30, implying a 4.3% yield.

Capital International Inc. CA reduced its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 18.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,509 shares of the financial services provider's stock after selling 73,115 shares during the period. Capital International Inc. CA's holdings in Brookfield Asset Management were worth $16,530,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Brookfield Asset Management by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider's stock valued at $928,414,000 after purchasing an additional 297,790 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Brookfield Asset Management by 2.0% in the 4th quarter. TD Asset Management Inc now owns 15,769,066 shares of the financial services provider's stock valued at $827,135,000 after purchasing an additional 315,036 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Brookfield Asset Management by 7.3% in the 4th quarter. Principal Financial Group Inc. now owns 7,863,457 shares of the financial services provider's stock valued at $411,972,000 after purchasing an additional 533,639 shares in the last quarter. Norges Bank acquired a new position in shares of Brookfield Asset Management in the 4th quarter valued at about $263,444,000. Finally, CIBC Asset Management Inc lifted its stake in shares of Brookfield Asset Management by 99.1% in the 4th quarter. CIBC Asset Management Inc now owns 4,853,861 shares of the financial services provider's stock valued at $255,449,000 after purchasing an additional 2,415,593 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BAM. Weiss Ratings lowered Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, May 15th. Morgan Stanley reduced their price objective on Brookfield Asset Management from $63.00 to $62.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 21st. The Goldman Sachs Group reduced their price target on Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Wall Street Zen lowered Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, JPMorgan Chase & Co. reduced their price target on Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $60.21.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $46.21 on Monday. The stock's 50 day moving average price is $47.14 and its 200 day moving average price is $49.31. The firm has a market capitalization of $75.69 billion, a PE ratio of 30.01, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.43 billion. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.75 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be given a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management's dividend payout ratio is presently 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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