Triasima Portfolio Management inc. Cuts Stock Holdings in Brookfield Asset Management Ltd. $BAM

Key Points

• Triasima Portfolio Management Inc. has reduced its stake in Brookfield Asset Management Ltd. by 49.5%, holding only 4,917 shares worth approximately $272,000 after selling nearly 4,811 shares in Q2.
• Other institutional investors have increased their positions in Brookfield, with Fenimore Asset Management and 111 Capital boosting their holdings by 1.8% and 387.8% respectively during the same period.
• Brookfield's latest earnings report showed a miss on EPS expectations, reporting $0.38 compared to a consensus estimate of $0.39, and its recent quarterly dividend provides an annual yield of 3.0%.

Triasima Portfolio Management inc. decreased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 49.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,917 shares of the financial services provider's stock after selling 4,811 shares during the period. Triasima Portfolio Management inc.'s holdings in Brookfield Asset Management were worth $272,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Fenimore Asset Management Inc increased its position in Brookfield Asset Management by 1.8% during the 2nd quarter. Fenimore Asset Management Inc now owns 930,467 shares of the financial services provider's stock valued at $51,436,000 after purchasing an additional 16,220 shares during the period. DAVENPORT & Co LLC increased its position in Brookfield Asset Management by 12.2% during the 2nd quarter. DAVENPORT & Co LLC now owns 3,556,812 shares of the financial services provider's stock valued at $196,348,000 after purchasing an additional 385,937 shares during the period. Woodmont Investment Counsel LLC increased its position in Brookfield Asset Management by 8.5% during the 2nd quarter. Woodmont Investment Counsel LLC now owns 129,533 shares of the financial services provider's stock valued at $7,161,000 after purchasing an additional 10,196 shares during the period. 111 Capital increased its position in Brookfield Asset Management by 387.8% during the 2nd quarter. 111 Capital now owns 32,022 shares of the financial services provider's stock valued at $1,774,000 after purchasing an additional 25,458 shares during the period. Finally, DHJJ Financial Advisors Ltd. grew its position in shares of Brookfield Asset Management by 100,000.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider's stock worth $55,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Up 0.8%

NYSE:BAM opened at $58.40 on Thursday. The company has a market cap of $95.65 billion, a PE ratio of 39.19, a P/E/G ratio of 2.13 and a beta of 1.39. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. The company's 50 day moving average is $59.44 and its two-hundred day moving average is $56.20.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, August 29th. Brookfield Asset Management's payout ratio is presently 117.45%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BAM shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Brookfield Asset Management in a research report on Wednesday. Bank of America downgraded shares of Brookfield Asset Management from a "buy" rating to a "neutral" rating and set a $68.00 price objective on the stock. in a research report on Thursday, September 4th. Wells Fargo & Company lifted their price objective on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a research report on Friday, July 11th. Scotiabank lifted their price objective on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the stock a "sector outperform" rating in a research report on Thursday, August 7th. Finally, Jefferies Financial Group lifted their price objective on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the stock a "hold" rating in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Brookfield Asset Management currently has a consensus rating of "Moderate Buy" and an average target price of $63.52.

Brookfield Asset Management 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.

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