Brookfield Asset Management Ltd. $BAM Stock Holdings Lowered by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp reduced its Brookfield Asset Management stake by 13.3% in the fourth quarter, selling 81,300 shares and leaving it with 531,167 shares worth about $27.8 million.
• Brokerage sentiment has turned more cautious: several firms cut price targets on BAM, and the stock now has a consensus rating of “Hold” with a consensus target price of $60.21.
• Brookfield Asset Management reported Q1 EPS of $0.43, topping estimates, and it also declared a quarterly dividend of $0.5025 per share, equal to a 4.2% annualized yield.

Alberta Investment Management Corp cut its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 531,167 shares of the financial services provider's stock after selling 81,300 shares during the period. Alberta Investment Management Corp's holdings in Brookfield Asset Management were worth $27,825,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new stake in shares of Brookfield Asset Management during the 1st quarter worth $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Brookfield Asset Management by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider's stock valued at $12,648,000 after buying an additional 24,013 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Brookfield Asset Management by 24.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider's stock worth $139,000 after buying an additional 497 shares during the period. Cerity Partners LLC increased its position in shares of Brookfield Asset Management by 17.6% in the second quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider's stock worth $1,916,000 after acquiring an additional 5,184 shares in the last quarter. Finally, State Street Corp increased its position in shares of Brookfield Asset Management by 11,172.2% in the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider's stock worth $194,845,000 after acquiring an additional 3,493,431 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on BAM. JPMorgan Chase & Co. reduced 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. Weiss Ratings cut shares of Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, May 15th. Royal Bank Of Canada cut their target price on shares of Brookfield Asset Management from $74.00 to $65.00 and set an "outperform" rating on the stock in a research note on Monday, May 11th. UBS Group set a $52.00 target price on Brookfield Asset Management in a report on Friday, February 20th. Finally, Scotiabank reaffirmed an "outperform" rating and issued a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $60.21.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $47.48 on Friday. The company has a market capitalization of $77.78 billion, a PE ratio of 30.83, a PEG ratio of 1.93 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. The company's 50 day moving average price is $47.71 and its 200 day moving average price is $49.06. Brookfield Asset Management Ltd. has a 52 week low of $42.20 and a 52 week high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results 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 $1.32 billion during the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. Research 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 dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management's dividend payout ratio is presently 130.52%.

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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