Wellington Management Group LLP Sells 43,001 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Wellington Management Group LLP reduced its stake in Brookfield Asset Management by 13.0% in Q1, holding 288,316 shares worth approximately $13.97 million as of the latest SEC filing.
• Brookfield recently reported an earnings per share of $0.38, slightly missing estimates, and has a predicted annual earnings of 1.7 EPS for the current fiscal year.
• The company announced a quarterly dividend of $0.4375, representing an annual yield of 2.9%, with the ex-dividend date set for August 29.

Wellington Management Group LLP decreased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 13.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 288,316 shares of the financial services provider's stock after selling 43,001 shares during the quarter. Wellington Management Group LLP's holdings in Brookfield Asset Management were worth $13,968,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. ST Germain D J Co. Inc. bought a new stake in Brookfield Asset Management in the 1st quarter valued at $26,000. Rossby Financial LCC bought a new stake in Brookfield Asset Management in the 1st quarter valued at $28,000. NewEdge Advisors LLC boosted its holdings in Brookfield Asset Management by 61.0% in the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 325 shares during the period. Larson Financial Group LLC boosted its holdings in Brookfield Asset Management by 1,079.6% in the 1st quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 1,004 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new stake in Brookfield Asset Management in the 4th quarter valued at $54,000. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Trading Down 0.8%

Shares of NYSE:BAM traded down $0.50 during midday trading on Monday, hitting $60.25. The company had a trading volume of 1,746,360 shares, compared to its average volume of 1,711,807. Brookfield Asset Management Ltd. has a 12 month low of $39.19 and a 12 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 stock has a market cap of $98.67 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 2.20 and a beta of 1.44. The firm has a fifty day simple moving average of $59.50 and a 200 day simple moving average of $55.28.

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

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management's dividend payout ratio is presently 117.45%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. National Bank Financial assumed coverage on shares of Brookfield Asset Management in a report on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 price target for the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $58.00 price target on shares of Brookfield Asset Management in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Jefferies Financial Group boosted their price target on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the company a "hold" rating in a report on Wednesday, August 13th. Finally, Wells Fargo & Company boosted their price target on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a report on Friday, July 11th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $63.33.

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.