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

Key Points

• Capital World Investors sharply reduced its Brookfield Asset Management stake by 67.2% in the fourth quarter, selling more than 10.3 million shares and ending with about 5.1 million shares valued at $265.4 million.
• Brookfield Asset Management posted Q1 earnings of $0.43 per share, topping analyst estimates, though revenue of $1.32 billion came in below expectations. The company also reported strong profitability metrics, including a 49.69% net margin and 30.66% return on equity.
• The company declared a quarterly dividend of $0.5025 per share, implying an annual yield of 4.4%, while analysts currently rate the stock a consensus "Hold" with an average price target of $60.21.

Capital World Investors decreased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 67.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,066,494 shares of the financial services provider's stock after selling 10,381,941 shares during the quarter. Capital World Investors owned about 0.31% of Brookfield Asset Management worth $265,427,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BAM. Norges Bank acquired a new stake in Brookfield Asset Management during the fourth quarter valued at $263,444,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Brookfield Asset Management by 88,805.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,725,314 shares of the financial services provider's stock valued at $247,559,000 after purchasing an additional 4,719,999 shares in the last quarter. State Street Corp lifted its holdings in Brookfield Asset Management by 11,172.2% during the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider's stock valued at $194,845,000 after purchasing an additional 3,493,431 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Brookfield Asset Management by 99.1% during the fourth 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. Finally, Legal & General Group Plc lifted its holdings in Brookfield Asset Management by 2,834.0% during the third quarter. Legal & General Group Plc now owns 2,365,709 shares of the financial services provider's stock valued at $134,659,000 after purchasing an additional 2,285,077 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Stock Down 0.5%

BAM stock opened at $45.94 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $75.25 billion, a price-to-earnings ratio of 29.83, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26. The company has a fifty day moving average price of $47.18 and a 200 day moving average price of $49.28. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $64.10.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. Sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.75 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be paid a $0.5025 dividend. This represents a $2.01 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management's payout ratio is currently 130.52%.

Analyst Ratings Changes

Several equities analysts have issued reports on BAM shares. Canadian Imperial Bank of Commerce set a $62.50 price objective on shares of Brookfield Asset Management in a report on Monday, May 11th. JPMorgan Chase & Co. dropped their price target on shares of Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating for the company in a research report on Wednesday, May 6th. Piper Sandler reiterated a "neutral" rating and set a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. Zacks Research cut shares of Brookfield Asset Management from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 20th. Finally, Scotiabank reiterated an "outperform" rating and set a $57.00 price target (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Brookfield Asset Management currently has an average rating of "Hold" and a consensus target price of $60.21.

Brookfield Asset Management 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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