Brookfield Asset Management Ltd. $BAM Shares Sold by Marks Group Wealth Management Inc

Key Points

• Marks Group Wealth Management cut its Brookfield Asset Management stake by 29.7% in the first quarter, selling 35,486 shares and ending with 83,825 shares valued at about $3.73 million.
• Brookfield Asset Management reported Q1 earnings of $0.43 per share, topping expectations by $0.02, while revenue came in line at $1.43 billion.
• The company paid a quarterly dividend of $0.5025 per share, or $2.01 annually, for a yield of about 4.1%; analysts currently rate the stock Hold on average with a consensus target price of $60.41.

Marks Group Wealth Management Inc reduced its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 29.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,825 shares of the financial services provider's stock after selling 35,486 shares during the quarter. Marks Group Wealth Management Inc's holdings in Brookfield Asset Management were worth $3,726,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Zions Bancorporation National Association UT increased its holdings in shares of Brookfield Asset Management by 241.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 345 shares in the last quarter. LOM Asset Management Ltd acquired a new position in shares of Brookfield Asset Management in the 4th quarter valued at $31,000. eCIO Inc. purchased a new stake in Brookfield Asset Management during the fourth quarter worth $42,000. Allworth Financial LP boosted its holdings in Brookfield Asset Management by 47.8% during the fourth quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider's stock worth $54,000 after buying an additional 333 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Brookfield Asset Management by 709.8% during the fourth quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider's stock valued at $56,000 after buying an additional 937 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $49.07 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. The company has a fifty day moving average of $47.22 and a two-hundred day moving average of $48.12. The stock has a market capitalization of $80.39 billion, a PE ratio of 31.86, a P/E/G ratio of 1.96 and a beta of 1.29. Brookfield Asset Management Ltd. has a fifty-two week low of $42.20 and a fifty-two week high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted 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 business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. As a group, research analysts forecast that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were paid a $0.5025 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a yield of 4.1%. Brookfield Asset Management's dividend payout ratio (DPR) is currently 130.52%.

Analyst Ratings Changes

BAM has been the subject of a number of analyst reports. Morgan Stanley decreased their price objective on shares of Brookfield Asset Management from $63.00 to $62.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 21st. The Goldman Sachs Group dropped their target price 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. Royal Bank Of Canada cut their price target on Brookfield Asset Management from $74.00 to $65.00 and set an "outperform" rating for the company in a research note on Monday, May 11th. Weiss Ratings cut Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, May 15th. 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 analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of "Hold" and a consensus target price of $60.41.

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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