Guardian Partners Inc. Sells 5,014 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Guardian Partners Inc. reduced its stake in Brookfield Asset Management by 1.6%, selling 5,014 shares and retaining 317,177 shares valued at approximately $15.5 million.
• Brookfield Asset Management reported earnings per share of $0.38 for the last quarter, missing estimates, and had a revenue of $1.11 billion compared to the expected $1.29 billion.
• The company recently announced a quarterly dividend of $0.4375 per share, with a dividend yield of 3.0% and a payout ratio of 117.45%.

Guardian Partners Inc. trimmed its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 317,177 shares of the financial services provider's stock after selling 5,014 shares during the quarter. Brookfield Asset Management makes up about 1.6% of Guardian Partners Inc.'s portfolio, making the stock its 16th biggest holding. Guardian Partners Inc.'s holdings in Brookfield Asset Management were worth $15,478,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. ST Germain D J Co. Inc. bought a new position in Brookfield Asset Management in the first quarter valued at approximately $26,000. Rossby Financial LCC bought a new position in shares of Brookfield Asset Management during the 1st quarter worth approximately $28,000. Truvestments Capital LLC boosted its stake in shares of Brookfield Asset Management by 85.5% during the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider's stock worth $45,000 after acquiring an additional 432 shares during the period. Larson Financial Group LLC boosted its stake 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 worth $53,000 after acquiring an additional 1,004 shares during the period. Finally, Parallel Advisors LLC boosted its stake in shares of Brookfield Asset Management by 85.7% during the 1st quarter. Parallel Advisors LLC now owns 1,558 shares of the financial services provider's stock worth $75,000 after acquiring an additional 719 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BAM has been the subject of several research analyst reports. National Bankshares set a $71.00 target price on Brookfield Asset Management and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. CIBC lifted 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. BMO Capital Markets lifted their target price on Brookfield Asset Management from $53.00 to $56.00 and gave the stock a "market perform" rating in a research note on Thursday, August 7th. Morgan Stanley lifted their price target on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a report on Friday, May 16th. Finally, National Bank Financial started coverage on Brookfield Asset Management in a report on Tuesday, July 29th. They set an "outperform" rating and a $71.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.52.

Brookfield Asset Management Price Performance

BAM stock traded down $0.05 during midday trading on Friday, reaching $56.68. 1,694,761 shares of the stock were exchanged, compared to its average volume of 1,898,762. The stock has a market capitalization of $92.83 billion, a PE ratio of 38.04, a P/E/G ratio of 2.07 and a beta of 1.44. Brookfield Asset Management Ltd. has a 52 week low of $41.78 and a 52 week high of $64.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25. The company has a fifty day moving average price of $59.83 and a 200 day moving average price of $55.20.

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

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, August 29th. Brookfield Asset Management's payout ratio is 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.