Cortland Associates Inc. MO Has $15.20 Million Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Cortland Associates Inc. MO reduced its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 44.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 313,637 shares of the financial services provider's stock after selling 251,983 shares during the period. Brookfield Asset Management comprises about 1.8% of Cortland Associates Inc. MO's holdings, making the stock its 19th largest holding. Cortland Associates Inc. MO's holdings in Brookfield Asset Management were worth $15,196,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BAM. Kirr Marbach & Co. LLC IN raised its position in 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 worth $1,715,000 after buying an additional 203 shares during the last quarter. RE Dickinson Investment Advisors LLC grew its stake in Brookfield Asset Management by 3.2% in the 4th quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider's stock valued at $377,000 after acquiring an additional 215 shares during the last quarter. Focus Financial Network Inc. grew its stake in Brookfield Asset Management by 5.2% in the 1st quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider's stock valued at $215,000 after acquiring an additional 218 shares during the last quarter. Gold Investment Management Ltd. boosted its stake in shares of Brookfield Asset Management by 0.5% during the 4th quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider's stock worth $2,271,000 after purchasing an additional 219 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after purchasing an additional 325 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Down 0.5%

Shares of NYSE BAM traded down $0.27 during mid-day trading on Tuesday, reaching $56.75. The company had a trading volume of 1,779,678 shares, compared to its average volume of 1,606,348. The stock has a fifty day moving average of $56.28 and a two-hundred day moving average of $54.16. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market capitalization of $92.93 billion, a price-to-earnings ratio of 40.25, a PEG ratio of 2.13 and a beta of 1.43. Brookfield Asset Management Ltd. has a 12-month low of $38.18 and a 12-month high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. As a group, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were paid a $0.4375 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.75 annualized dividend and a dividend yield of 3.08%. Brookfield Asset Management's payout ratio is 124.11%.

Analysts Set New Price Targets

Several research firms have issued reports on BAM. Wall Street Zen raised shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. Jefferies Financial Group reduced their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Royal Bank Of Canada started coverage on shares of Brookfield Asset Management in a research report on Wednesday, June 18th. They set an "outperform" rating and a $72.00 price target on the stock. Scotiabank increased their target price on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, TD Securities upped their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $59.64.

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.