Madison Asset Management LLC Trims Position in Brookfield Asset Management Ltd. $BAM

Key Points

• Madison Asset Management cut its Brookfield Asset Management stake by 7% in the first quarter, selling 126,374 shares and leaving it with 1,675,100 shares valued at about $74.5 million.
• Brookfield Asset Management reported Q1 earnings of $0.43 per share, topping analyst expectations by $0.02, while revenue came in at $1.43 billion, in line with estimates.
• The company recently paid a quarterly dividend of $0.5025 per share, implying an annualized dividend of $2.01 and a yield of about 4.2%; analysts currently rate the stock a consensus Hold with an average price target of $60.41.

Madison Asset Management LLC decreased its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 7.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,675,100 shares of the financial services provider's stock after selling 126,374 shares during the quarter. Madison Asset Management LLC owned approximately 0.10% of Brookfield Asset Management worth $74,458,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BAM. AQR Capital Management LLC purchased a new position in shares of Brookfield Asset Management in the first quarter worth approximately $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Brookfield Asset Management by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider's stock valued at $12,648,000 after buying an additional 24,013 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Brookfield Asset Management by 24.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider's stock valued at $139,000 after buying an additional 497 shares during the last quarter. Cerity Partners LLC increased its holdings in Brookfield Asset Management by 17.6% during the second quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider's stock valued at $1,916,000 after buying an additional 5,184 shares during the last quarter. Finally, State Street Corp raised its position in Brookfield Asset Management by 11,172.2% in the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider's stock worth $194,845,000 after acquiring an additional 3,493,431 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $47.34 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The business's 50-day simple moving average is $47.17 and its two-hundred day simple moving average is $48.02. The stock has a market cap of $77.56 billion, a PE ratio of 30.74, a P/E/G ratio of 1.99 and a beta of 1.29. Brookfield Asset Management Ltd. has a 52 week low of $42.20 and a 52 week high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. As a group, analysts forecast that Brookfield Asset Management Ltd. will post 1.73 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were paid a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, May 29th. Brookfield Asset Management's dividend payout ratio (DPR) is 130.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BAM shares. Piper Sandler reissued a "neutral" rating and set a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. Weiss Ratings cut Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, May 15th. Royal Bank Of Canada lowered their target price on Brookfield Asset Management from $74.00 to $65.00 and set an "outperform" rating on the stock in a research report on Monday, May 11th. The Goldman Sachs Group cut their price target on Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Finally, Wall Street Zen cut Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $60.41.

About Brookfield Asset Management

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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