Brookfield Asset Management Ltd. $BAM Shares Sold by First Manhattan CO. LLC.

Key Points

• First Manhattan CO. LLC. reduced its holdings in Brookfield Asset Management Ltd. by 2.2%, selling 26,889 shares and now owning approximately 1,211,977 shares valued at $58.67 million.
• Other institutional investors, such as Cerity Partners LLC and Teacher Retirement System of Texas, have increased their positions, with Cerity Partners raising its holdings by 36.6% during the same period.
• Brookfield Asset Management reported a quarterly earnings per share (EPS) of $0.38, missing expectations, and announced a quarterly dividend of $0.4375 to be paid on September 29th, representing an annualized yield of 2.9%.

First Manhattan CO. LLC. decreased its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 2.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,211,977 shares of the financial services provider's stock after selling 26,889 shares during the period. First Manhattan CO. LLC. owned approximately 0.07% of Brookfield Asset Management worth $58,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in BAM. Kirr Marbach & Co. LLC IN boosted its position in Brookfield Asset Management by 0.6% in the first quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider's stock valued at $1,715,000 after buying an additional 203 shares during the last quarter. Lincoln Capital LLC boosted its position in Brookfield Asset Management by 0.9% in the first quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider's stock valued at $1,145,000 after buying an additional 210 shares during the last quarter. Focus Financial Network Inc. boosted its position in Brookfield Asset Management by 5.2% in the first quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider's stock valued at $215,000 after buying an additional 218 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Brookfield Asset Management by 17.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,015 shares of the financial services provider's stock valued at $98,000 after buying an additional 299 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position 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 buying an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BAM shares. Jefferies Financial Group upped their target price on Brookfield Asset Management from $55.00 to $62.00 and gave the company a "hold" rating in a research report on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $58.00 target price on shares of Brookfield Asset Management in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their target price on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. CIBC upped their target price on Brookfield Asset Management from $70.00 to $71.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Scotiabank upped their target price on Brookfield Asset Management from $66.00 to $67.25 and gave the stock a "sector outperform" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $63.52.

Brookfield Asset Management Price Performance

Shares of BAM stock traded up $0.57 on Thursday, reaching $59.08. 2,509,311 shares of the company were exchanged, compared to its average volume of 2,066,945. The company has a market cap of $96.75 billion, a price-to-earnings ratio of 39.65, a P/E/G ratio of 2.20 and a beta of 1.44. The business has a 50-day moving average price of $59.65 and a 200 day moving average price of $55.32. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25. Brookfield Asset Management Ltd. has a 1 year low of $40.44 and a 1 year high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.29 billion. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.0%. Brookfield Asset Management's dividend payout ratio is presently 117.45%.

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.