JPMorgan Chase & Co. Sells 67,247 Shares of Brookfield Asset Management Ltd. $BAM

JPMorgan Chase & Co. reduced its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,605,899 shares of the financial services provider’s stock after selling 67,247 shares during the period. JPMorgan Chase & Co. owned approximately 0.10% of Brookfield Asset Management worth $91,440,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its stake in shares of Brookfield Asset Management by 1,270.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 432 shares during the last quarter. Manchester Capital Management LLC grew its position in Brookfield Asset Management by 559.5% in the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 442 shares during the last quarter. Sagard Holdings Management Inc. bought a new position in shares of Brookfield Asset Management during the 2nd quarter worth about $39,000. Assetmark Inc. raised its position in shares of Brookfield Asset Management by 95.9% during the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after buying an additional 395 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Brookfield Asset Management by 93.3% during the third quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock valued at $47,000 after buying an additional 401 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Morgan Stanley set a $63.00 target price on Brookfield Asset Management in a research report on Tuesday, February 17th. JPMorgan Chase & Co. raised their price objective on Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Loop Capital set a $60.00 price objective on Brookfield Asset Management in a research report on Tuesday, January 6th. Scotiabank set a $64.00 target price on Brookfield Asset Management and gave the company an “outperform” rating in a research note on Thursday, February 5th. Finally, UBS Group set a $52.00 price target on shares of Brookfield Asset Management in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Brookfield Asset Management presently has an average rating of “Moderate Buy” and an average target price of $63.65.

Brookfield Asset Management Trading Down 5.1%

Shares of BAM opened at $47.96 on Tuesday. The stock has a 50 day simple moving average of $51.99 and a 200-day simple moving average of $54.72. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. The stock has a market cap of $78.56 billion, a PE ratio of 31.55, a PEG ratio of 1.84 and a beta of 1.40. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%.The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. On average, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a dividend of $0.5025 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.01 annualized dividend and a yield of 4.2%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s payout ratio is 115.13%.

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.