Capital International Investors Reduces Stock Holdings in Brookfield Asset Management Ltd. $BAM

Capital International Investors trimmed its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 17.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,311,859 shares of the financial services provider’s stock after selling 2,771,015 shares during the quarter. Capital International Investors’ holdings in Brookfield Asset Management were worth $697,408,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. LOM Asset Management Ltd purchased a new stake in Brookfield Asset Management in the fourth quarter valued at $31,000. eCIO Inc. purchased a new stake in Brookfield Asset Management in the fourth quarter valued at $42,000. Assetmark Inc. boosted its holdings in Brookfield Asset Management by 95.9% in the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 395 shares during the last quarter. Cary Street Partners Financial LLC boosted its holdings in Brookfield Asset Management by 227.5% in the third quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 562 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in Brookfield Asset Management by 47.8% in the fourth quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 333 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on BAM. Royal Bank Of Canada lowered their price target on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. Weiss Ratings lowered shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. 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. JPMorgan Chase & Co. cut their target price on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.21.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $46.21 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $75.69 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26. The company has a 50 day moving average price of $47.14 and a 200-day moving average price of $49.31. Brookfield Asset Management Ltd. has a 1-year low of $42.20 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.75 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be issued a $0.5025 dividend. This represents a $2.01 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management’s payout ratio is presently 130.52%.

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.