Invesco Ltd. Cuts Stock Position in Brookfield Asset Management Ltd. $BAM

Key Points

• Invesco Ltd. has reduced its holdings in Brookfield Asset Management by 2.9%, now owning approximately 1.35 million shares valued at about $65 million.
• Barclays PLC increased its stake in Brookfield Asset Management by 274.0%, while several other institutional investors also expanded their shareholdings during the fourth quarter.
• Brookfield Asset Management reported an earnings per share (EPS) of $0.38, missing expectations and declared a quarterly dividend of $0.4375 per share, reflecting a yield of 2.9%.

Invesco Ltd. lessened its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 2.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,346,068 shares of the financial services provider's stock after selling 39,871 shares during the quarter. Invesco Ltd. owned about 0.08% of Brookfield Asset Management worth $65,217,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in BAM. Barclays PLC grew its position in Brookfield Asset Management by 274.0% during the 4th quarter. Barclays PLC now owns 7,492 shares of the financial services provider's stock valued at $406,000 after purchasing an additional 5,489 shares during the last quarter. NewEdge Advisors LLC raised its position in Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after acquiring an additional 325 shares during the period. Capital International Investors grew its holdings in Brookfield Asset Management by 0.7% during the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider's stock valued at $873,354,000 after purchasing an additional 116,008 shares during the period. Capital Group Private Client Services Inc. raised its stake in Brookfield Asset Management by 75.3% during the 4th quarter. Capital Group Private Client Services Inc. now owns 72,538 shares of the financial services provider's stock worth $3,931,000 after acquiring an additional 31,162 shares during the period. Finally, Capital International Inc. CA increased its stake in Brookfield Asset Management by 13.5% in the 4th quarter. Capital International Inc. CA now owns 242,391 shares of the financial services provider's stock worth $13,135,000 after buying an additional 28,833 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Shares of BAM traded down $0.6430 during mid-day trading on Wednesday, reaching $59.3670. The company had a trading volume of 641,944 shares, compared to its average volume of 2,071,733. The stock has a market capitalization of $97.22 billion, a P/E ratio of 39.84, a PEG ratio of 2.23 and a beta of 1.44. Brookfield Asset Management Ltd. has a 52-week low of $39.19 and a 52-week high of $64.10. The stock has a 50 day moving average of $58.53 and a two-hundred day moving average of $55.12. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data 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 return on equity of 41.12% and a net margin of 55.92%.The firm had revenue of $1,107,960 billion for the quarter, compared to analyst estimates of $1.29 billion. On average, analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $0.4375 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 2.9%. Brookfield Asset Management's dividend payout ratio is presently 117.45%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $58.00 target price on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Scotiabank lifted their price target on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the stock a "sector outperform" rating in a research note on Thursday, August 7th. CIBC lifted their target price on Brookfield Asset Management from $70.00 to $71.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, Piper Sandler began coverage on Brookfield Asset Management in a research note on Monday, June 30th. They set a "neutral" rating and a $60.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $63.33.

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.