Hillsdale Investment Management Inc. Has $3.37 Million Stock Holdings in Brookfield Asset Management Ltd. $BAM

Key Points

• Hillsdale Investment Management cut its Brookfield Asset Management stake by 70.4% in the first quarter, leaving it with 75,870 shares valued at about $3.37 million.
• Institutional ownership remains significant, with hedge funds and other investors holding 68.41% of Brookfield Asset Management’s shares; several firms also recently adjusted their positions.
• Analyst sentiment is mixed to cautious: the stock has an average Hold rating and a consensus target price of about $60.41, while recent price targets and ratings were trimmed by several firms.

Hillsdale Investment Management Inc. reduced its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 70.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,870 shares of the financial services provider's stock after selling 180,425 shares during the period. Hillsdale Investment Management Inc.'s holdings in Brookfield Asset Management were worth $3,372,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Zions Bancorporation National Association UT boosted its position in Brookfield Asset Management by 241.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider's stock worth $26,000 after buying an additional 345 shares during the period. LOM Asset Management Ltd acquired a new position in Brookfield Asset Management in the 4th quarter valued at approximately $31,000. eCIO Inc. acquired a new position in Brookfield Asset Management in the 4th quarter valued at approximately $42,000. Allworth Financial LP raised its stake in shares of Brookfield Asset Management by 47.8% during the fourth quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 333 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Brookfield Asset Management by 709.8% during the fourth quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 937 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 6th. Royal Bank Of Canada lowered their target price 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. Weiss Ratings downgraded Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, May 15th. Wall Street Zen lowered Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Saturday, July 4th. Finally, Morgan Stanley decreased their price target on Brookfield Asset Management from $63.00 to $62.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 21st. 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $60.41.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $49.07 on Thursday. Brookfield Asset Management Ltd. has a twelve month low of $42.20 and a twelve month high of $64.10. The firm has a fifty day simple moving average of $47.22 and a 200 day simple moving average of $48.12. The company has a market capitalization of $80.39 billion, a PE ratio of 31.86, a P/E/G ratio of 1.96 and a beta of 1.29. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.43 billion. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.74 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were paid a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, May 29th. Brookfield Asset Management's payout ratio is currently 130.52%.

Brookfield Asset Management 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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