Cumberland Partners Ltd Has $1.21 Million Stake in Brookfield Asset Management Ltd. $BAM

Key Points

• Cumberland Partners Ltd cut its Brookfield Asset Management stake by 72.3% in the first quarter, ending with 27,310 shares valued at about $1.21 million.
• Other institutional investors were mixed on the stock, with several increasing positions; overall, institutional ownership stands at 68.41% of Brookfield Asset Management shares.
• Brookfield Asset Management reported Q1 EPS of $0.43, topping estimates, and it recently paid a quarterly dividend of $0.5025 per share, for an annualized yield of 4.3%.

Cumberland Partners Ltd reduced its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 72.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,310 shares of the financial services provider's stock after selling 71,205 shares during the quarter. Cumberland Partners Ltd's holdings in Brookfield Asset Management were worth $1,210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Entropy Technologies LP boosted its position in Brookfield Asset Management by 31.3% in the 1st quarter. Entropy Technologies LP now owns 80,257 shares of the financial services provider's stock valued at $3,567,000 after buying an additional 19,133 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Brookfield Asset Management by 17.7% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 942,000 shares of the financial services provider's stock valued at $41,867,000 after buying an additional 142,000 shares during the period. Renaissance Technologies LLC raised its position in shares of Brookfield Asset Management by 283.7% during the first quarter. Renaissance Technologies LLC now owns 1,103,325 shares of the financial services provider's stock worth $49,043,000 after acquiring an additional 815,800 shares during the last quarter. Sei Investments Co. raised its position in shares of Brookfield Asset Management by 63.3% during the first quarter. Sei Investments Co. now owns 195,489 shares of the financial services provider's stock worth $8,689,000 after acquiring an additional 75,814 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of Brookfield Asset Management by 26.5% during the first quarter. Cetera Investment Advisers now owns 64,834 shares of the financial services provider's stock valued at $2,875,000 after acquiring an additional 13,597 shares during the period. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Trading Up 1.4%

NYSE BAM opened at $46.35 on Friday. The stock has a 50-day simple moving average of $47.00 and a 200 day simple moving average of $47.87. The company has a market capitalization of $75.93 billion, a PE ratio of 30.10, a P/E/G ratio of 1.86 and a beta of 1.29. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. Research analysts forecast that Brookfield Asset Management Ltd. will post 1.76 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were given a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, May 29th. Brookfield Asset Management's dividend payout ratio (DPR) is currently 130.52%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BAM. Royal Bank Of Canada lowered their price objective on Brookfield Asset Management from $74.00 to $65.00 and set an "outperform" rating for the company in a research report on Monday, May 11th. Piper Sandler restated a "neutral" rating and set a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. Canadian Imperial Bank of Commerce set a $62.50 target price on shares of Brookfield Asset Management in a research note on Monday, May 11th. Weiss Ratings cut shares of Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating for the company in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of "Hold" and an average price target of $60.03.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company's products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.

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