Brookfield Asset Management Ltd. $BAM Shares Sold by Louisbourg Investments Inc.

Key Points

• Louisbourg Investments Inc. drastically reduced its stake in Brookfield Asset Management by 97.2%, holding only 1,402 shares after selling 48,750 during the second quarter.
• Brookfield Asset Management's stock is currently down 6.3%, with a market capitalization of $90.18 billion, and a P/E ratio of 36.95.
• The company announced a quarterly dividend of $0.4375, reflecting an annual yield of 3.2%, despite a high payout ratio of 117.45%.

Louisbourg Investments Inc. lowered its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 97.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,402 shares of the financial services provider's stock after selling 48,750 shares during the quarter. Louisbourg Investments Inc.'s holdings in Brookfield Asset Management were worth $77,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Inspire Investing LLC purchased a new position in Brookfield Asset Management in the 2nd quarter worth about $2,591,000. Blue Zone Wealth Advisors LLC increased its stake in Brookfield Asset Management by 1.7% in the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 174,916 shares of the financial services provider's stock worth $9,669,000 after purchasing an additional 2,977 shares in the last quarter. PDS Planning Inc purchased a new position in Brookfield Asset Management in the 2nd quarter worth about $214,000. Blair William & Co. IL increased its stake in Brookfield Asset Management by 26.7% in the 2nd quarter. Blair William & Co. IL now owns 29,095 shares of the financial services provider's stock worth $1,608,000 after purchasing an additional 6,140 shares in the last quarter. Finally, US Bancorp DE increased its stake in Brookfield Asset Management by 6.3% in the 2nd quarter. US Bancorp DE now owns 18,493 shares of the financial services provider's stock worth $1,022,000 after purchasing an additional 1,091 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Down 6.3%

BAM opened at $55.06 on Friday. The business has a 50 day moving average price of $59.29 and a 200 day moving average price of $56.28. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $90.18 billion, a P/E ratio of 36.95, a price-to-earnings-growth ratio of 2.17 and a beta of 1.39.

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

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 29th. Brookfield Asset Management's payout ratio is 117.45%.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of analyst reports. National Bank Financial began coverage on Brookfield Asset Management in a research note on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 price target on the stock. Piper Sandler decreased their price objective on Brookfield Asset Management from $65.00 to $60.00 and set a "neutral" rating for the company in a research report on Thursday, September 11th. Bank of America lowered Brookfield Asset Management from a "buy" rating to a "neutral" rating and set a $68.00 price objective for the company. in a research report on Thursday, September 4th. TD Securities raised their price objective on Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $58.00 price objective on shares of Brookfield Asset Management in a research report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $63.52.

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.

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