Bruni J V & Co. Co. Sells 5,791 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Bruni J V & Co. Co. reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.5% during the third quarter, HoldingsChannel.com reports. The fund owned 379,540 shares of the financial services provider’s stock after selling 5,791 shares during the quarter. Brookfield Asset Management comprises approximately 2.0% of Bruni J V & Co. Co.’s holdings, making the stock its 23rd biggest position. Bruni J V & Co. Co.’s holdings in Brookfield Asset Management were worth $17,948,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in BAM. Hara Capital LLC bought a new stake in Brookfield Asset Management during the third quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 385 shares in the last quarter. Continuum Advisory LLC boosted its position in Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 285 shares in the last quarter. Richardson Financial Services Inc. grew its stake in Brookfield Asset Management by 368.3% in the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 755 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its position in shares of Brookfield Asset Management by 151.3% during the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 640 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 0.5 %

NYSE:BAM opened at $55.47 on Tuesday. The company has a market cap of $24.57 billion, a P/E ratio of 49.09, a P/E/G ratio of 2.33 and a beta of 1.42. Brookfield Asset Management Ltd. has a twelve month low of $33.06 and a twelve month high of $58.53. The company’s 50-day moving average price is $50.24 and its 200-day moving average price is $43.55.

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 net margin of 49.69% and a return on equity of 85.03%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business earned $0.35 earnings per share. On average, analysts expect that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 2.74%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BAM. Wells Fargo & Company raised their price target on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods upped their price target on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. BMO Capital Markets increased their price target on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. TD Securities boosted their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group began coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.54.

About Brookfield Asset Management

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.