Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank reduced its stake in Brookfield Asset Management by 6.7%, selling 9,087 shares, and now holds 127,120 shares valued at approximately $6.15 million.
• Brookfield Asset Management reported earnings of $0.40 per share for the last quarter, meeting expectations, but revenue fell short at $1.04 billion against the projected $1.29 billion.
• Several analysts have recently adjusted their ratings for Brookfield, with targets ranging notably from $46.00 to $69.00, reflecting varied outlooks on the stock's performance.

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 6.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 127,120 shares of the financial services provider's stock after selling 9,087 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Brookfield Asset Management were worth $6,153,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. ST Germain D J Co. Inc. acquired a new stake in Brookfield Asset Management during the 1st quarter worth about $26,000. Rossby Financial LCC purchased a new stake in Brookfield Asset Management in the first quarter valued at approximately $28,000. NewEdge Advisors LLC increased 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 worth $47,000 after buying an additional 325 shares during the period. Larson Financial Group LLC increased 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 worth $53,000 after buying an additional 1,004 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in Brookfield Asset Management during the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 68.41% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a report on Friday, July 11th. TD Securities lifted their price objective on Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a research note on Monday. Wall Street Zen upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. National Bank Financial began coverage on Brookfield Asset Management in a research report on Tuesday. They set an "outperform" rating and a $71.00 price target for the company. Finally, National Bankshares set a $71.00 price target on Brookfield Asset Management and gave the company an "outperform" rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.06.

Brookfield Asset Management Price Performance

NYSE BAM traded down $1.86 during trading hours on Friday, hitting $59.81. 2,106,115 shares of the company's stock traded hands, compared to its average volume of 1,710,764. The company has a market capitalization of $97.95 billion, a PE ratio of 42.42, a PEG ratio of 2.38 and a beta of 1.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31. Brookfield Asset Management Ltd. has a 52-week low of $38.18 and a 52-week high of $63.53. The firm's 50-day moving average is $57.20 and its 200-day moving average is $54.80.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Equities analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were given a dividend of $0.4375 per share. The ex-dividend date was Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.9%. Brookfield Asset Management's dividend payout ratio (DPR) is currently 124.11%.

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.