Motley Fool Wealth Management LLC Cuts Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• Motley Fool Wealth Management LLC reduced its stake in Brookfield Asset Management Ltd. by 12.0%, selling 35,792 shares, leaving them with 261,410 shares valued at approximately $12.67 million.
• Brookfield Asset Management is receiving mixed reviews from analysts, with two sell ratings, seven hold ratings, and nine buy ratings, leading to an average rating of "Moderate Buy".
• The company recently announced a quarterly dividend of $0.4375 per share, indicating a 2.9% dividend yield and a payout ratio of 117.45%.

Motley Fool Wealth Management LLC trimmed its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 12.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 261,410 shares of the financial services provider's stock after selling 35,792 shares during the period. Motley Fool Wealth Management LLC's holdings in Brookfield Asset Management were worth $12,665,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Brookfield Asset Management by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock worth $832,833,000 after acquiring an additional 302,852 shares in the last quarter. Capital International Investors grew its stake in Brookfield Asset Management by 0.7% during the 4th quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider's stock worth $873,354,000 after buying an additional 116,008 shares during the last quarter. Bank of Nova Scotia grew its stake in Brookfield Asset Management by 1.2% during the 1st quarter. Bank of Nova Scotia now owns 2,269,833 shares of the financial services provider's stock worth $109,913,000 after buying an additional 27,913 shares during the last quarter. Bank of America Corp DE grew its stake in Brookfield Asset Management by 12.5% during the 4th quarter. Bank of America Corp DE now owns 1,939,109 shares of the financial services provider's stock worth $105,080,000 after buying an additional 215,670 shares during the last quarter. Finally, Madison Asset Management LLC grew its stake in Brookfield Asset Management by 9.5% during the 1st quarter. Madison Asset Management LLC now owns 1,901,985 shares of the financial services provider's stock worth $92,151,000 after buying an additional 165,098 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Performance

Shares of BAM stock traded down $0.33 on Thursday, hitting $62.18. The company had a trading volume of 1,540,941 shares, compared to its average volume of 2,102,868. The company has a quick ratio of 1.31, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. Brookfield Asset Management Ltd. has a twelve month low of $39.19 and a twelve month high of $64.10. The company has a 50-day moving average price of $58.13 and a 200-day moving average price of $55.14. The firm has a market cap of $100.30 billion, a P/E ratio of 41.73, a price-to-earnings-growth ratio of 2.26 and a beta of 1.44.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, August 29th. Brookfield Asset Management's payout ratio is currently 117.45%.

Wall Street Analysts Forecast Growth

BAM has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $58.00 target price on shares of Brookfield Asset Management in a research note on Thursday, August 7th. TD Securities boosted their target price on Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. CIBC boosted 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. Piper Sandler assumed coverage on Brookfield Asset Management in a research note on Monday, June 30th. They set a "neutral" rating and a $60.00 target price on the stock. Finally, 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 research report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $63.33.

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.