Mn Services Vermogensbeheer B.V. Has $3 Million Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Mn Services Vermogensbeheer B.V. lessened its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 56.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,000 shares of the financial services provider’s stock after selling 78,800 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Brookfield Asset Management were worth $3,001,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. RE Dickinson Investment Advisors LLC increased its stake in Brookfield Asset Management by 3.2% during the 4th quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 215 shares during the period. Focus Financial Network Inc. increased its stake in Brookfield Asset Management by 5.2% during the 1st quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 218 shares during the period. Gold Investment Management Ltd. increased its stake in Brookfield Asset Management by 0.5% during the 4th quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider’s stock worth $2,271,000 after acquiring an additional 219 shares during the period. NewEdge Advisors LLC increased its stake in Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 325 shares during the period. Finally, Lindbrook Capital LLC increased its stake in Brookfield Asset Management by 20.5% during the 4th quarter. Lindbrook Capital LLC now owns 2,174 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 370 shares during the period. Institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BAM shares. Morgan Stanley raised their price objective on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Friday, May 16th. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Tuesday, April 15th. Wells Fargo & Company lifted their price target on Brookfield Asset Management from $54.00 to $55.00 and gave the company an “underweight” rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. lifted their price target on Brookfield Asset Management from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Finally, TD Securities lifted their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.15.

Brookfield Asset Management Trading Down 1.6%

NYSE BAM opened at $53.96 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.07. Brookfield Asset Management Ltd. has a twelve month low of $37.33 and a twelve month high of $62.61. The company has a market cap of $87.02 billion, a price-to-earnings ratio of 38.27, a price-to-earnings-growth ratio of 1.99 and a beta of 1.51. The business’s fifty day moving average is $54.36 and its 200 day moving average is $54.32.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data 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 return on equity of 52.70% and a net margin of 55.26%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.29 billion. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management’s payout ratio is presently 124.11%.

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.