Strs Ohio Sells 139,217 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Strs Ohio reduced its stake in Brookfield Asset Management by 46.9% in the first quarter, selling 139,217 shares and leaving it with 157,526 shares valued at about $6.99 million.
• Analyst sentiment is mixed, with the stock carrying a consensus rating of “Hold” and an average price target of $60.21; recent moves included both target cuts and one downgrade to “sell.”
• Brookfield’s latest earnings beat expectations, reporting $0.43 EPS versus $0.41 expected, while the company also paid a quarterly dividend of $0.5025 per share, implying a 4.4% yield.

Strs Ohio trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 46.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 157,526 shares of the financial services provider's stock after selling 139,217 shares during the quarter. Strs Ohio's holdings in Brookfield Asset Management were worth $6,992,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Focus Financial Network Inc. increased its position in shares of Brookfield Asset Management by 4.6% in the fourth quarter. Focus Financial Network Inc. now owns 4,436 shares of the financial services provider's stock valued at $232,000 after acquiring an additional 194 shares during the period. Crescent Grove Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 4.3% during the fourth quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider's stock worth $251,000 after purchasing an additional 200 shares during the period. Kestra Advisory Services LLC grew its stake in shares of Brookfield Asset Management by 3.6% in the fourth quarter. Kestra Advisory Services LLC now owns 6,301 shares of the financial services provider's stock worth $330,000 after purchasing an additional 218 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Brookfield Asset Management by 1.3% in the fourth quarter. Foundations Investment Advisors LLC now owns 17,165 shares of the financial services provider's stock worth $899,000 after purchasing an additional 226 shares during the last quarter. Finally, Kraematon Investment Advisors Inc. increased its holdings in Brookfield Asset Management by 2.0% during the 4th quarter. Kraematon Investment Advisors Inc. now owns 12,073 shares of the financial services provider's stock valued at $632,000 after purchasing an additional 234 shares during the period. Hedge funds and other institutional investors own 68.41% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on BAM. Scotiabank reaffirmed an "outperform" rating and set a $57.00 price target (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. Royal Bank Of Canada decreased their target price on Brookfield Asset Management from $74.00 to $65.00 and set an "outperform" rating for the company in a report on Monday, May 11th. Piper Sandler reaffirmed a "neutral" rating and issued a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th. JPMorgan Chase & Co. cut their price target on shares of Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating on the stock in a report on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $60.21.

Brookfield Asset Management Stock Up 0.0%

Shares of NYSE:BAM opened at $45.88 on Monday. The firm has a market capitalization of $75.17 billion, a P/E ratio of 29.80, a P/E/G ratio of 1.85 and a beta of 1.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a 50 day moving average price of $47.32 and a 200-day moving average price of $48.45. 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 released its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates 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, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.74 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were given a $0.5025 dividend. The ex-dividend date of this dividend was Friday, May 29th. 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 130.52%.

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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