Glenview Trust Co Sells 10,290 Shares of Brookfield Asset Management Ltd. $BAM

Glenview Trust Co reduced its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 51.2% during the fourth quarter, HoldingsChannel reports. The fund owned 9,800 shares of the financial services provider’s stock after selling 10,290 shares during the quarter. Glenview Trust Co’s holdings in Brookfield Asset Management were worth $513,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. St. Louis Trust Co bought a new stake in Brookfield Asset Management in the 4th quarter valued at about $676,000. Jefferies Financial Group Inc. purchased a new position in Brookfield Asset Management during the 4th quarter valued at about $22,893,000. Check Capital Management Inc. CA grew its holdings in Brookfield Asset Management by 10.4% during the 4th quarter. Check Capital Management Inc. CA now owns 12,786 shares of the financial services provider’s stock valued at $670,000 after buying an additional 1,200 shares in the last quarter. FourThought Financial Partners LLC purchased a new position in Brookfield Asset Management during the 4th quarter valued at about $230,000. Finally, Global Retirement Partners LLC grew its holdings in Brookfield Asset Management by 143.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,329 shares of the financial services provider’s stock valued at $70,000 after buying an additional 782 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Up 2.5%

Shares of NYSE BAM opened at $49.12 on Wednesday. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $64.10. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $80.47 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 1.93 and a beta of 1.28. The business has a 50-day moving average of $46.49 and a 200-day moving average of $49.59.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.43 billion. Sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be given a $0.5025 dividend. The ex-dividend date is Friday, May 29th. This represents a $2.01 annualized dividend and a yield of 4.1%. Brookfield Asset Management’s payout ratio is presently 130.52%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BAM. BMO Capital Markets raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Royal Bank Of Canada reduced their target price on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, May 11th. Zacks Research lowered Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. UBS Group set a $52.00 target price on Brookfield Asset Management in a report on Friday, February 20th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and an average target price of $60.21.

Brookfield Asset Management Company 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.