Teacher Retirement System of Texas Cuts Holdings in Brookfield Asset Management Ltd. $BAM

Key Points

• Teacher Retirement System of Texas cut its stake in Brookfield Asset Management by 83.3% in Q4, selling 350,000 shares and retaining 70,000 shares worth about $3.667 million.
• Analysts hold a consensus Hold rating on BAM with a $61.76 target, and institutional investors own roughly 68.4% of the stock while several large funds (e.g., Vanguard, Connor Clark & Lunn) have recently increased positions.
• Brookfield beat quarterly EPS estimates ($0.47 vs. $0.41), raised its quarterly dividend to $0.5025 (about a $2.01 annualized payout and a 4.3% yield), but the payout ratio is high at roughly 132%.

Teacher Retirement System of Texas lessened its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 83.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 70,000 shares of the financial services provider's stock after selling 350,000 shares during the quarter. Teacher Retirement System of Texas' holdings in Brookfield Asset Management were worth $3,667,000 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 the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Brookfield Asset Management by 72.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider's stock worth $222,161,000 after acquiring an additional 1,642,375 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Brookfield Asset Management by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider's stock valued at $991,677,000 after purchasing an additional 253,789 shares in the last quarter. Cumberland Partners Ltd raised its holdings in shares of Brookfield Asset Management by 78.0% in the 3rd quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider's stock valued at $7,168,000 after purchasing an additional 55,225 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Brookfield Asset Management by 65.6% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider's stock worth $14,463,000 after purchasing an additional 100,713 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Brookfield Asset Management by 18.5% during the 3rd quarter. New York State Common Retirement Fund now owns 465,600 shares of the financial services provider's stock worth $26,511,000 after purchasing an additional 72,600 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Saturday, January 10th. Scotiabank decreased their price target on Brookfield Asset Management from $64.00 to $56.00 and set an "outperform" rating for the company in a report on Wednesday, March 25th. Zacks Research cut Brookfield Asset Management from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 20th. Loop Capital set a $60.00 price objective on Brookfield Asset Management in a report on Tuesday, January 6th. Finally, Weiss Ratings lowered Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of "Hold" and a consensus target price of $61.76.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $46.99 on Tuesday. The company's 50 day simple moving average is $46.20 and its 200-day simple moving average is $50.46. The firm has a market cap of $76.97 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 1.96 and a beta of 1.38. Brookfield Asset Management Ltd. has a 12-month low of $42.20 and a 12-month high of $64.10. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. As a group, equities analysts predict that Brookfield Asset Management Ltd. will post 1.74 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th were paid a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a dividend yield of 4.3%. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.44. The ex-dividend date was Friday, February 27th. Brookfield Asset Management's payout ratio is currently 132.24%.

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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