Canal Capital Management LLC Decreases Stake in Brookfield Asset Management Ltd. $BAM

Canal Capital Management LLC cut its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 78.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,471 shares of the financial services provider’s stock after selling 72,645 shares during the period. Canal Capital Management LLC’s holdings in Brookfield Asset Management were worth $1,072,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BAM. Norges Bank bought a new position in shares of Brookfield Asset Management during the 2nd quarter valued at approximately $294,730,000. State Street Corp increased its position in Brookfield Asset Management by 11,172.2% in the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock worth $194,845,000 after purchasing an additional 3,493,431 shares during the last quarter. Legal & General Group Plc increased its position in Brookfield Asset Management by 2,834.0% in the third quarter. Legal & General Group Plc now owns 2,365,709 shares of the financial services provider’s stock worth $134,659,000 after purchasing an additional 2,285,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Brookfield Asset Management by 72.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider’s stock valued at $222,161,000 after purchasing an additional 1,642,375 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Brookfield Asset Management by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 4,218,119 shares of the financial services provider’s stock valued at $232,402,000 after purchasing an additional 857,994 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 1.1%

Shares of BAM opened at $43.48 on Friday. The company’s fifty day simple moving average is $49.35 and its 200-day simple moving average is $52.92. The company has a market cap of $71.21 billion, a P/E ratio of 28.60, a P/E/G ratio of 1.56 and a beta of 1.42. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a dividend of $0.5025 per share. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, February 27th. Brookfield Asset Management’s payout ratio is currently 132.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BAM shares. UBS Group set a $52.00 price objective on shares of Brookfield Asset Management in a research note on Friday, February 20th. Royal Bank Of Canada set a $74.00 target price on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research report on Monday, December 15th. BMO Capital Markets raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brookfield Asset Management in a research report on Monday, December 22nd. Finally, Morgan Stanley set a $63.00 price objective on Brookfield Asset Management in a research report on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Brookfield Asset Management currently has an average rating of “Moderate Buy” and a consensus target price of $63.65.

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.