Segall Bryant & Hamill LLC Sells 263,349 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Segall Bryant & Hamill LLC cut its Brookfield Asset Management stake by 76.3% in the first quarter, selling 263,349 shares and retaining 81,933 shares valued at approximately $3.64 million.
• Brookfield reported quarterly EPS of $0.43, exceeding the $0.41 consensus estimate, on revenue of $1.43 billion. The company also paid a quarterly dividend of $0.5025 per share, representing a 4.0% annualized yield.
• Analysts maintain a consensus “Hold” rating with an average price target of $59.03, compared with the stock’s reported price of $50.69; institutional investors own 68.41% of the company.

Segall Bryant & Hamill LLC decreased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 76.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,933 shares of the financial services provider's stock after selling 263,349 shares during the period. Segall Bryant & Hamill LLC's holdings in Brookfield Asset Management were worth $3,642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BAM. Vanguard Group Inc. raised its position in shares of Brookfield Asset Management by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider's stock worth $928,414,000 after acquiring an additional 297,790 shares in the last quarter. Cooke & Bieler LP raised its position in shares of Brookfield Asset Management by 48.6% in the 4th quarter. Cooke & Bieler LP now owns 2,001,903 shares of the financial services provider's stock worth $104,880,000 after purchasing an additional 655,009 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Brookfield Asset Management by 7.3% in the fourth quarter. Principal Financial Group Inc. now owns 7,863,457 shares of the financial services provider's stock worth $411,972,000 after buying an additional 533,639 shares during the last quarter. Nicola Wealth Management LTD. lifted its position in Brookfield Asset Management by 16.3% in the 4th quarter. Nicola Wealth Management LTD. now owns 251,758 shares of the financial services provider's stock valued at $13,190,000 after acquiring an additional 35,200 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its holdings in shares of Brookfield Asset Management by 32.5% during the fourth quarter. Intact Investment Management Inc. now owns 782,558 shares of the financial services provider's stock valued at $40,992,000 after purchasing an additional 191,998 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Performance

BAM opened at $50.69 on Tuesday. The firm has a market cap of $83.04 billion, a P/E ratio of 32.92, a PEG ratio of 1.97 and a beta of 1.26. Brookfield Asset Management Ltd. has a 1-year low of $42.20 and a 1-year high of $64.10. The company has a 50 day simple moving average of $47.03 and a two-hundred day simple moving average of $47.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38.

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. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. Equities analysts forecast that Brookfield Asset Management Ltd. will post 1.76 earnings per share 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 4.0%. The ex-dividend date of this dividend was Friday, May 29th. Brookfield Asset Management's dividend payout ratio (DPR) is 130.52%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Canadian Imperial Bank of Commerce set a $62.50 target price on shares of Brookfield Asset Management in a research report on Monday, May 11th. Wall Street Zen downgraded Brookfield Asset Management from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. The Goldman Sachs Group cut their price objective 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. JPMorgan Chase & Co. reduced their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating for the company in a research report on Wednesday, May 6th. Finally, Piper Sandler reissued a "neutral" rating and issued a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $59.03.

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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