Mcdonald Capital Investors Inc. CA Has $18.35 Million Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Mcdonald Capital Investors Inc. CA cut its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 378,798 shares of the financial services provider's stock after selling 8,464 shares during the period. Brookfield Asset Management accounts for approximately 1.2% of Mcdonald Capital Investors Inc. CA's investment portfolio, making the stock its 17th largest holding. Mcdonald Capital Investors Inc. CA's holdings in Brookfield Asset Management were worth $18,353,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BAM. Jones Financial Companies Lllp increased its holdings in shares of Brookfield Asset Management by 91.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,477 shares of the financial services provider's stock valued at $134,000 after purchasing an additional 1,182 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Brookfield Asset Management by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 842,141 shares of the financial services provider's stock valued at $45,650,000 after purchasing an additional 7,212 shares during the period. Atria Investments Inc increased its holdings in shares of Brookfield Asset Management by 7.4% during the fourth quarter. Atria Investments Inc now owns 15,063 shares of the financial services provider's stock valued at $816,000 after purchasing an additional 1,035 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Brookfield Asset Management during the fourth quarter valued at $12,069,000. Finally, Amundi increased its holdings in shares of Brookfield Asset Management by 16.4% during the fourth quarter. Amundi now owns 220,946 shares of the financial services provider's stock valued at $12,309,000 after purchasing an additional 31,123 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BAM. Bank of America raised Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target on the stock in a report on Thursday, April 10th. Morgan Stanley raised their price target on Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. 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. Finally, Piper Sandler assumed coverage on Brookfield Asset Management in a report on Monday, June 30th. They set a "neutral" rating and a $60.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $59.64.

Brookfield Asset Management Stock Performance

BAM traded down $0.45 on Friday, hitting $56.13. The company had a trading volume of 1,402,263 shares, compared to its average volume of 1,605,361. The company's fifty day moving average price is $56.21 and its 200 day moving average price is $54.16. Brookfield Asset Management Ltd. has a 1-year low of $38.18 and a 1-year high of $62.61. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market cap of $91.90 billion, a price-to-earnings ratio of 39.80, a price-to-earnings-growth ratio of 2.13 and a beta of 1.43.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.29 billion. Equities analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were issued a dividend of $0.4375 per share. The ex-dividend date was Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.12%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 124.11%.

About Brookfield Asset Management

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.