Massachusetts Financial Services Co. MA Sells 123,897 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Massachusetts Financial Services Co. MA lowered its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 2.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,382,709 shares of the financial services provider's stock after selling 123,897 shares during the period. Massachusetts Financial Services Co. MA owned about 0.33% of Brookfield Asset Management worth $260,792,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BAM. Norges Bank bought a new position in Brookfield Asset Management in the 4th quarter worth $287,361,000. TD Asset Management Inc. boosted its holdings in Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock worth $903,323,000 after buying an additional 1,359,126 shares during the period. Marshall Wace LLP bought a new position in Brookfield Asset Management in the 4th quarter worth $43,321,000. FIL Ltd boosted its holdings in Brookfield Asset Management by 3.9% in the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider's stock worth $833,581,000 after buying an additional 574,978 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Brookfield Asset Management by 31.3% in the 4th quarter. Geode Capital Management LLC now owns 2,116,337 shares of the financial services provider's stock worth $117,171,000 after buying an additional 504,478 shares during the period. Institutional investors own 68.41% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on BAM. Royal Bank Of Canada started coverage on shares of Brookfield Asset Management in a report on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 target price for the company. Scotiabank increased their price objective on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. TD Securities increased their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen raised shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $59.64.

Brookfield Asset Management Price Performance

Shares of NYSE BAM traded down $0.01 during mid-day trading on Friday, hitting $61.48. 325,060 shares of the company's stock traded hands, compared to its average volume of 2,128,488. The company has a market capitalization of $100.67 billion, a P/E ratio of 43.59, a PEG ratio of 2.30 and a beta of 1.43. The company's 50-day moving average is $56.47 and its two-hundred day moving average is $54.26. Brookfield Asset Management Ltd. has a 1 year low of $38.18 and a 1 year high of $62.61. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, hitting analysts' consensus estimates of $0.40. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. On average, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Friday, May 30th. Brookfield Asset Management's dividend payout ratio (DPR) is presently 124.11%.

About Brookfield Asset Management

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.