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

Cortland Associates Inc. MO cut its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 44.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 313,637 shares of the financial services provider's stock after selling 251,983 shares during the period. Brookfield Asset Management comprises approximately 1.8% of Cortland Associates Inc. MO's investment portfolio, making the stock its 19th biggest position. Cortland Associates Inc. MO's holdings in Brookfield Asset Management were worth $15,196,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. ST Germain D J Co. Inc. acquired a new stake in Brookfield Asset Management in the first quarter valued at $26,000. Truvestments Capital LLC increased its holdings in Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 419 shares during the period. Rossby Financial LCC acquired a new stake in Brookfield Asset Management in the first quarter valued at $28,000. Mountain Hill Investment Partners Corp. acquired a new stake in Brookfield Asset Management in the fourth quarter valued at $32,000. Finally, NewEdge Advisors LLC increased its holdings 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 valued at $47,000 after purchasing an additional 325 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Jefferies Financial Group decreased their price target on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Piper Sandler assumed coverage on Brookfield Asset Management in a report on Monday, June 30th. They set a "neutral" rating and a $60.00 price target for the company. JPMorgan Chase & Co. increased their price target on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. 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 for the company. Finally, Wells Fargo & Company increased their price target on Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a report on Friday. Two 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 company's stock. According to MarketBeat, Brookfield Asset Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.64.

Brookfield Asset Management Price Performance

BAM stock opened at $56.13 on Friday. Brookfield Asset Management Ltd. has a 1 year low of $38.18 and a 1 year high of $62.61. The stock has a market capitalization of $91.90 billion, a PE ratio of 39.80, a price-to-earnings-growth ratio of 2.15 and a beta of 1.43. 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 company's 50-day moving average is $56.21 and its 200-day moving average is $54.16.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced 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. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.29 billion. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were given a $0.4375 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.75 annualized dividend and a yield of 3.12%. Brookfield Asset Management's payout ratio is 124.11%.

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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