Alberta Investment Management Corp Sells 81,300 Shares of Brookfield Asset Management Ltd. $BAM

Alberta Investment Management Corp trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 531,167 shares of the financial services provider’s stock after selling 81,300 shares during the period. Alberta Investment Management Corp’s holdings in Brookfield Asset Management were worth $27,825,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BAM. Zions Bancorporation National Association UT lifted its position in shares of Brookfield Asset Management by 241.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 345 shares during the last quarter. LOM Asset Management Ltd acquired a new stake in Brookfield Asset Management in the 4th quarter valued at approximately $31,000. eCIO Inc. bought a new position in Brookfield Asset Management in the 4th quarter worth approximately $42,000. Assetmark Inc. lifted its holdings in shares of Brookfield Asset Management by 95.9% during the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after buying an additional 395 shares during the last quarter. Finally, Cary Street Partners Financial LLC lifted its holdings in shares of Brookfield Asset Management by 227.5% during the third quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after buying an additional 562 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $47.48 on Friday. The stock’s fifty day simple moving average is $47.71 and its 200 day simple moving average is $49.06. 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 $77.78 billion, a price-to-earnings ratio of 30.83, a P/E/G ratio of 1.93 and a beta of 1.26. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping 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 return on equity of 30.66% and a net margin of 49.69%. On average, analysts expect that Brookfield Asset Management Ltd. will post 1.75 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a $0.5025 dividend. The ex-dividend date is Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.2%. Brookfield Asset Management’s payout ratio is 130.52%.

Analyst Ratings Changes

BAM has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. reduced their price target 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. Morgan Stanley decreased their price target on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. Piper Sandler restated a “neutral” rating and set a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. Finally, UBS Group set a $52.00 price objective on shares of Brookfield Asset Management in a research report on Friday, February 20th. 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 two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and a consensus target price of $60.21.

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.