Zurcher Kantonalbank Zurich Cantonalbank Sells 26,710 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Zurcher Kantonalbank cut its stake in Brookfield Asset Management by 20.4% in Q4, selling 26,710 shares and retaining 103,903 shares worth about $5.45 million.
• Analysts show mixed views: the consensus rating is "Hold" with a $61.76 target, while Goldman Sachs cut its target to $49 and Weiss Ratings downgraded the stock.
• Brookfield raised its quarterly dividend to $0.5025 (annualized $2.01) for a ~4.2% yield, but the payout ratio is a high 132.24%.

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 20.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,903 shares of the financial services provider's stock after selling 26,710 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Brookfield Asset Management were worth $5,450,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Brookfield Asset Management by 1.5% in the third quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider's stock worth $991,677,000 after buying an additional 253,789 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 buying an additional 1,642,375 shares during the last quarter. State Street Corp lifted its position in shares of Brookfield Asset Management by 11,172.2% during the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider's stock worth $194,845,000 after purchasing an additional 3,493,431 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Brookfield Asset Management by 6.9% during the third quarter. Bank of America Corp DE now owns 3,173,231 shares of the financial services provider's stock worth $180,684,000 after purchasing an additional 204,575 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Brookfield Asset Management by 1.9% during the third quarter. CIBC Asset Management Inc now owns 2,438,268 shares of the financial services provider's stock worth $139,644,000 after purchasing an additional 44,478 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. The Goldman Sachs Group decreased their target price on Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating for the company in a research report on Tuesday, April 7th. Loop Capital set a $60.00 target price on Brookfield Asset Management in a research report on Tuesday, January 6th. UBS Group set a $52.00 target price on Brookfield Asset Management in a research report on Friday, February 20th. Weiss Ratings downgraded Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 8th. Finally, Wall Street Zen upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Saturday, January 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $61.76.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $47.62 on Friday. The firm has a market cap of $78.02 billion, a P/E ratio of 31.33, a P/E/G ratio of 1.96 and a beta of 1.38. 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 Ltd. has a 12 month low of $42.20 and a 12 month high of $64.10. The stock's fifty day moving average price is $46.32 and its 200-day moving average price is $50.64.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced 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. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%. On average, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared 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 is an increase from Brookfield Asset Management's previous quarterly dividend of $0.44. This represents a $2.01 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Friday, February 27th. Brookfield Asset Management's payout ratio is 132.24%.

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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