William Blair Investment Management LLC Sells 1,342,003 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• William Blair Investment Management cut its Brookfield Asset Management stake by 42.2% in the fourth quarter, selling 1,342,003 shares and ending with 1,835,120 shares valued at about $96.1 million.
• Several other institutional investors also made large moves in BAM, and institutions now own about 68.41% of the company’s stock.
• Analysts remain cautious overall: the stock has a consensus rating of “Hold” with an average price target of $60.21, while Brookfield recently beat EPS estimates but missed revenue expectations and announced a quarterly dividend of $0.5025 per share.

William Blair Investment Management LLC lessened its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 42.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,835,120 shares of the financial services provider's stock after selling 1,342,003 shares during the quarter. William Blair Investment Management LLC owned about 0.11% of Brookfield Asset Management worth $96,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its position in Brookfield Asset Management by 88,805.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,725,314 shares of the financial services provider's stock valued at $247,559,000 after acquiring an additional 4,719,999 shares in the last quarter. State Street Corp lifted its position in Brookfield Asset Management by 11,172.2% in the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider's stock valued at $194,845,000 after acquiring an additional 3,493,431 shares in the last quarter. Legal & General Group Plc lifted its position in Brookfield Asset Management by 2,834.0% in the 3rd quarter. Legal & General Group Plc now owns 2,365,709 shares of the financial services provider's stock valued at $134,659,000 after acquiring an additional 2,285,077 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Brookfield Asset Management by 72.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider's stock valued at $222,161,000 after acquiring an additional 1,642,375 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Brookfield Asset Management by 55.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,699,374 shares of the financial services provider's stock valued at $94,117,000 after acquiring an additional 602,962 shares in the last quarter. Institutional investors own 68.41% of the company's stock.

Analysts Set New Price Targets

BAM has been the topic of several recent analyst reports. UBS Group set a $52.00 target price on shares of Brookfield Asset Management in a research report on Friday, February 20th. BMO Capital Markets raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 5th. Wall Street Zen cut shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. dropped their target price on shares of Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 6th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $60.21.

Brookfield Asset Management Stock Down 1.2%

Brookfield Asset Management stock opened at $47.96 on Friday. The stock has a market cap of $78.56 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 1.95 and a beta of 1.28. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. The company's 50-day moving average price is $46.27 and its two-hundred day moving average price is $49.70. 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 earnings results 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. The firm had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. On average, analysts expect that Brookfield Asset Management Ltd. will post 1.74 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.5025 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.01 annualized dividend and a yield of 4.2%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 130.52%.

Brookfield Asset Management 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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