Montrusco Bolton Investments Inc. Cuts Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Montrusco Bolton Investments Inc. lessened its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 18.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 422,195 shares of the financial services provider's stock after selling 96,811 shares during the period. Montrusco Bolton Investments Inc.'s holdings in Brookfield Asset Management were worth $20,434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rossby Financial LCC bought a new stake in shares of Brookfield Asset Management in the 1st quarter valued at about $28,000. ST Germain D J Co. Inc. purchased a new position in Brookfield Asset Management during the 1st quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new position in Brookfield Asset Management during the 4th quarter valued at about $32,000. NewEdge Advisors LLC increased its holdings in Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 325 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in Brookfield Asset Management during the 4th quarter valued at about $54,000. Institutional investors own 68.41% of the company's stock.

Analysts Set New Price Targets

BAM has been the topic of a number of research analyst reports. Bank of America upgraded 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 boosted 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 upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. TD Securities boosted their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada assumed coverage on Brookfield Asset Management in a report on Wednesday, June 18th. They set an "outperform" rating and a $72.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $59.64.

Brookfield Asset Management Stock Down 1.2%

BAM traded down $0.73 during trading on Friday, hitting $60.76. 1,549,618 shares of the company's stock traded hands, compared to its average volume of 1,623,105. The company's 50 day simple moving average is $56.47 and its two-hundred day simple moving average is $54.26. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.07. Brookfield Asset Management Ltd. has a 12-month low of $38.18 and a 12-month high of $62.61. The stock has a market capitalization of $99.49 billion, a price-to-earnings ratio of 43.09, a PEG ratio of 2.30 and a beta of 1.43.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.29 billion. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. 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 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 of this dividend was Friday, May 30th. This represents a $1.75 annualized dividend and a dividend yield of 2.88%. Brookfield Asset Management's payout ratio is 124.11%.

Brookfield Asset Management Company 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.