Picton Mahoney Asset Management Lowers Stake in Brookfield Asset Management Ltd. $BAM

Key Points

• Picton Mahoney Asset Management slashed its stake in Brookfield by 99.4% in Q3, selling about 800,000 shares and leaving 4,571 shares worth roughly $260,000.
• Brookfield raised its quarterly dividend to $0.5025 (annualized $2.01), implying a 4.4% yield, but the dividend payout ratio is elevated at about 132%, which may raise sustainability concerns.
• Analysts hold a consensus of "Moderate Buy" with an average target of about $63.65, while the stock trades near ~$46 and recent quarterly EPS beat expectations ($0.47 vs. $0.41).

Picton Mahoney Asset Management cut its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 99.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,571 shares of the financial services provider's stock after selling 800,000 shares during the quarter. Picton Mahoney Asset Management's holdings in Brookfield Asset Management were worth $260,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in BAM. AQR Capital Management LLC purchased a new position in shares of Brookfield Asset Management during the first quarter worth about $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Brookfield Asset Management by 10.1% during the 1st 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 acquiring an additional 24,013 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Brookfield Asset Management by 43.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 941,475 shares of the financial services provider's stock valued at $52,045,000 after acquiring an additional 286,760 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Brookfield Asset Management by 127.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 995 shares of the financial services provider's stock worth $55,000 after acquiring an additional 558 shares during the period. Finally, Metis Global Partners LLC lifted its position in Brookfield Asset Management by 23.5% during the 2nd quarter. Metis Global Partners LLC now owns 13,370 shares of the financial services provider's stock worth $740,000 after acquiring an additional 2,542 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Down 2.5%

BAM opened at $46.08 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.92 and a quick ratio of 0.97. The business has a 50 day simple moving average of $51.01 and a 200-day simple moving average of $53.88. The stock has a market capitalization of $75.48 billion, a P/E ratio of 30.32, a P/E/G ratio of 1.62 and a beta of 1.42. Brookfield Asset Management Ltd. has a 12 month low of $41.78 and a 12 month high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%. On average, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a dividend of $0.5025 per share. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.4%. Brookfield Asset Management's dividend payout ratio is currently 132.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BAM shares. The Goldman Sachs Group dropped their target price on Brookfield Asset Management from $67.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, January 6th. UBS Group set a $52.00 price target on Brookfield Asset Management in a report on Friday, February 20th. Royal Bank Of Canada set a $74.00 price objective on shares of Brookfield Asset Management and gave the company an "outperform" rating in a research report on Monday, December 15th. Keefe, Bruyette & Woods cut their price objective on shares of Brookfield Asset Management from $62.00 to $59.00 and set an "underperform" rating for the company in a research report on Monday, November 10th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Brookfield Asset Management in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Brookfield Asset Management presently has a consensus rating of "Moderate Buy" and an average target price of $63.65.

Brookfield Asset Management Company 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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