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

Key Points

• Capital International Investors trimmed its stake in Brookfield Asset Management by 1.2% in Q3, selling 190,616 shares and leaving it with 16,082,874 shares (about 0.98% of the company) valued at roughly $915.76 million.
• Brookfield raised its quarterly dividend to $0.5025 (annualized $2.01) for a ~4.4% yield, with an ex-dividend date of Feb. 27, though the payout ratio is a high 132.24%.
• Analysts have a consensus rating of "Moderate Buy" on BAM with a $63.65 average price target; the broker breakdown includes 2 Strong Buy, 7 Buy, 7 Hold and 2 Sell ratings.

Capital International Investors trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 1.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,082,874 shares of the financial services provider's stock after selling 190,616 shares during the quarter. Capital International Investors owned approximately 0.98% of Brookfield Asset Management worth $915,759,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 19th. UBS Group set a $52.00 price objective on shares of Brookfield Asset Management in a report on Friday, February 20th. 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. Wall Street Zen upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Saturday, January 10th. Finally, Scotiabank set a $64.00 price target on Brookfield Asset Management and gave the company an "outperform" rating in a research report on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Brookfield Asset Management has an average rating of "Moderate Buy" and a consensus price target of $63.65.

Brookfield Asset Management Trading Down 1.5%

Shares of BAM opened at $45.28 on Wednesday. Brookfield Asset Management Ltd. has a 12-month low of $41.78 and a 12-month high of $64.10. The firm has a market capitalization of $74.17 billion, a P/E ratio of 29.79, a P/E/G ratio of 1.62 and a beta of 1.42. The firm has a 50-day moving average price of $50.72 and a 200 day moving average price of $53.64. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. Sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a dividend of $0.5025 per share. 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 an increase from Brookfield Asset Management's previous quarterly dividend of $0.44. Brookfield Asset Management's payout ratio is 132.24%.

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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