Brookfield Asset Management Ltd. $BAM Stock Holdings Trimmed by Schwartz Investment Counsel Inc.

Key Points

• Schwartz Investment Counsel Inc. significantly reduced its holdings in Brookfield Asset Management Ltd., selling 230,000 shares and decreasing its stake by 96.9%, which now totals 7,275 shares valued at $402,000.
• Brookfield Asset Management announced a quarterly dividend of $0.4375, reflecting an annualized yield of 3.2%, with a payout ratio of 117.45%.
• The firm reported earnings of $0.38 EPS for the quarter, missing consensus estimates, alongside a revenue of $1.11 billion compared to expectations of $1.29 billion.

Schwartz Investment Counsel Inc. lowered its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 96.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,275 shares of the financial services provider's stock after selling 230,000 shares during the period. Schwartz Investment Counsel Inc.'s holdings in Brookfield Asset Management were worth $402,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BAM. Wealth Enhancement Advisory Services LLC increased its position in shares of Brookfield Asset Management by 2.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,002 shares of the financial services provider's stock valued at $2,083,000 after purchasing an additional 854 shares during the period. Davidson Kahn Capital Management LLC increased its position in shares of Brookfield Asset Management by 10.5% during the 1st quarter. Davidson Kahn Capital Management LLC now owns 52,486 shares of the financial services provider's stock valued at $2,543,000 after purchasing an additional 4,995 shares during the period. Kirr Marbach & Co. LLC IN increased its position in shares of Brookfield Asset Management by 0.6% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider's stock valued at $1,715,000 after purchasing an additional 203 shares during the period. SOL Capital Management CO increased its position in shares of Brookfield Asset Management by 62.5% during the 1st quarter. SOL Capital Management CO now owns 51,372 shares of the financial services provider's stock valued at $2,489,000 after purchasing an additional 19,756 shares during the period. Finally, Gold Investment Management Ltd. increased its position in shares of Brookfield Asset Management by 9.8% during the 1st quarter. Gold Investment Management Ltd. now owns 45,979 shares of the financial services provider's stock valued at $2,227,000 after purchasing an additional 4,090 shares during the period. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $54.62 on Tuesday. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $89.45 billion, a price-to-earnings ratio of 36.66, a P/E/G ratio of 2.02 and a beta of 1.39. The stock's fifty day simple moving average is $58.55 and its 200-day simple moving average is $56.67.

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

Brookfield Asset Management Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on BAM. Weiss Ratings reiterated a "buy (b)" rating on shares of Brookfield Asset Management in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $58.00 target price on shares of Brookfield Asset Management in a report on Thursday, August 7th. BMO Capital Markets lifted their target price on Brookfield Asset Management from $53.00 to $56.00 and gave the stock a "market perform" rating in a report on Thursday, August 7th. National Bank Financial began coverage on Brookfield Asset Management in a report on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a report on Friday, July 11th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.27.

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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