Bank of New York Mellon Corp Sells 35,164 Shares of Brookfield Asset Management Ltd. $BAM

Bank of New York Mellon Corp decreased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,007,645 shares of the financial services provider’s stock after selling 35,164 shares during the quarter. Bank of New York Mellon Corp owned 0.06% of Brookfield Asset Management worth $44,790,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Focus Financial Network Inc. raised its position in Brookfield Asset Management by 4.6% during the fourth quarter. Focus Financial Network Inc. now owns 4,436 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 194 shares in the last quarter. Crescent Grove Advisors LLC increased its holdings in Brookfield Asset Management by 4.3% in the fourth quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider’s stock valued at $251,000 after purchasing an additional 200 shares during the period. Kestra Advisory Services LLC raised its position in Brookfield Asset Management by 3.6% during the 4th quarter. Kestra Advisory Services LLC now owns 6,301 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 218 shares during the last quarter. Foundations Investment Advisors LLC raised its position in Brookfield Asset Management by 1.3% during the 4th quarter. Foundations Investment Advisors LLC now owns 17,165 shares of the financial services provider’s stock worth $899,000 after purchasing an additional 226 shares during the last quarter. Finally, Kraematon Investment Advisors Inc. boosted its holdings in Brookfield Asset Management by 2.0% in the fourth quarter. Kraematon Investment Advisors Inc. now owns 12,073 shares of the financial services provider’s stock valued at $632,000 after acquiring an additional 234 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

BAM opened at $46.35 on Friday. The stock’s 50 day moving average price is $47.00 and its 200-day moving average price is $47.87. Brookfield Asset Management Ltd. has a 52-week low of $42.20 and a 52-week high of $64.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $75.93 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 1.86 and a beta of 1.29.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. On average, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.76 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were issued a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 130.52%.

Analyst Ratings Changes

Several equities research analysts have recently commented on BAM shares. Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Scotiabank reissued an “outperform” rating and set a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce set a $62.50 price target on shares of Brookfield Asset Management in a report on Monday, May 11th. Morgan Stanley set a $56.00 price target on shares of Brookfield Asset Management and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Weiss Ratings lowered Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.03.

About Brookfield Asset Management

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.