Envestnet Asset Management Inc. Cuts Position in Brookfield Asset Management Ltd. $BAM

Envestnet Asset Management Inc. trimmed its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 408,303 shares of the financial services provider’s stock after selling 21,778 shares during the period. Envestnet Asset Management Inc.’s holdings in Brookfield Asset Management were worth $23,248,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. AQR Capital Management LLC bought a new position in Brookfield Asset Management during the 1st quarter valued at approximately $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Brookfield Asset Management by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock worth $12,648,000 after acquiring an additional 24,013 shares during the last quarter. US Bancorp DE increased its holdings in shares of Brookfield Asset Management by 6.3% during the second quarter. US Bancorp DE now owns 18,493 shares of the financial services provider’s stock valued at $1,022,000 after acquiring an additional 1,091 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Brookfield Asset Management by 22.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 33,362 shares of the financial services provider’s stock valued at $1,850,000 after acquiring an additional 6,219 shares in the last quarter. Finally, MGO One Seven LLC purchased a new position in shares of Brookfield Asset Management in the 2nd quarter worth about $304,000. 68.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BAM has been the topic of several recent analyst reports. BMO Capital Markets raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. upped their target price on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. The Goldman Sachs Group reduced their price target on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Loop Capital set a $60.00 price objective on shares of Brookfield Asset Management in a report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $63.94.

Brookfield Asset Management Stock Performance

BAM opened at $52.64 on Friday. The company’s 50 day moving average is $52.37 and its 200 day moving average is $55.26. 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 company has a market cap of $86.21 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 1.92 and a beta of 1.40. Brookfield Asset Management Ltd. has a 12-month low of $41.78 and a 12-month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, topping 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 29.67%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. On average, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a $0.5025 dividend. The ex-dividend date is Friday, February 27th. 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 yield of 3.8%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 115.13%.

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.