Mcdonald Capital Investors Inc. CA Decreases Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Mcdonald Capital Investors Inc. CA reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 392,566 shares of the financial services provider’s stock after selling 14,470 shares during the period. Brookfield Asset Management accounts for about 1.1% of Mcdonald Capital Investors Inc. CA’s holdings, making the stock its 17th biggest position. Mcdonald Capital Investors Inc. CA’s holdings in Brookfield Asset Management were worth $18,564,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in shares of Brookfield Asset Management by 0.3% during the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after purchasing an additional 24,409 shares during the last quarter. Radnor Capital Management LLC acquired a new stake in shares of Brookfield Asset Management in the 3rd quarter valued at about $430,000. Marks Group Wealth Management Inc grew its stake in Brookfield Asset Management by 3.9% during the 3rd quarter. Marks Group Wealth Management Inc now owns 171,680 shares of the financial services provider’s stock worth $8,119,000 after buying an additional 6,421 shares during the last quarter. Heritage Investors Management Corp acquired a new position in Brookfield Asset Management during the third quarter worth approximately $234,000. Finally, River Road Asset Management LLC increased its position in Brookfield Asset Management by 23.5% during the third quarter. River Road Asset Management LLC now owns 182,478 shares of the financial services provider’s stock worth $8,629,000 after buying an additional 34,726 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.1 %

Shares of BAM stock opened at $56.99 on Thursday. The stock has a 50 day simple moving average of $47.78 and a 200-day simple moving average of $42.55. The company has a market cap of $25.32 billion, a price-to-earnings ratio of 50.41, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42. Brookfield Asset Management Ltd. has a 12-month low of $30.60 and a 12-month high of $57.48.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the business posted $0.35 earnings per share. On average, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is 134.51%.

Analyst Ratings Changes

BAM has been the subject of several research analyst reports. Scotiabank increased their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a report on Tuesday. The Goldman Sachs Group increased their price target on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Bank of America lifted their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. BMO Capital Markets upped their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Brookfield Asset Management from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $52.29.

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.