Forsta AP Fonden Trims Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• Forsta AP Fonden has significantly reduced its stake in Brookfield Asset Management Ltd. by 54.5%, from 187,900 to 85,500 shares, during the first quarter, leading to a valuation of $4,138,000.
• Several analysts have increased their price targets for Brookfield Asset Management, with JPMorgan raising it from $51.00 to $55.00, indicating a positive outlook with an average rating of "Moderate Buy."
• The company recently declared a quarterly dividend of $0.4375 per share, reflecting a 2.8% yield and a payout ratio of 117.45%.

Forsta AP Fonden lowered its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 54.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 85,500 shares of the financial services provider's stock after selling 102,400 shares during the period. Forsta AP Fonden's holdings in Brookfield Asset Management were worth $4,138,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BAM. ST Germain D J Co. Inc. purchased a new position in shares of Brookfield Asset Management during the 1st quarter valued at about $26,000. Rossby Financial LCC acquired a new stake in shares of Brookfield Asset Management during the 1st quarter valued at about $28,000. NewEdge Advisors LLC grew its position 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 valued at $47,000 after acquiring an additional 325 shares during the period. Larson Financial Group LLC grew its position in shares of Brookfield Asset Management by 1,079.6% during the 1st quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 1,004 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Brookfield Asset Management during the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 68.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BAM. CIBC raised their target price on Brookfield Asset Management from $70.00 to $71.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Piper Sandler began coverage on Brookfield Asset Management in a research report on Monday, June 30th. They set a "neutral" rating and a $60.00 target price on the stock. Royal Bank Of Canada began coverage on Brookfield Asset Management in a research report on Wednesday, June 18th. They set an "outperform" rating and a $72.00 target price on the stock. TD Securities raised their target price on Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Finally, National Bank Financial began coverage on Brookfield Asset Management in a report on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Brookfield Asset Management presently has an average rating of "Moderate Buy" and a consensus price target of $63.33.

Brookfield Asset Management Price Performance

BAM traded down $0.71 during trading on Friday, reaching $61.40. The company's stock had a trading volume of 920,365 shares, compared to its average volume of 1,839,362. The company has a quick ratio of 1.31, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $58.32 and a two-hundred day simple moving average of $55.16. Brookfield Asset Management Ltd. has a 1 year low of $39.19 and a 1 year high of $64.10. The company has a market cap of $99.04 billion, a price-to-earnings ratio of 41.21, a PEG ratio of 2.27 and a beta of 1.44.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management's payout ratio is presently 117.45%.

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.