Quent Capital LLC Sells 432 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Quent Capital LLC lessened its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 38.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 700 shares of the financial services provider’s stock after selling 432 shares during the period. Quent Capital LLC’s holdings in Brookfield Asset Management were worth $27,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Asset Management One Co. Ltd. raised its holdings in shares of Brookfield Asset Management by 127.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 62,914 shares of the financial services provider’s stock valued at $2,537,000 after acquiring an additional 35,300 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Brookfield Asset Management during the 4th quarter valued at approximately $4,160,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Brookfield Asset Management by 50.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 54,756 shares of the financial services provider’s stock worth $2,122,000 after acquiring an additional 18,463 shares during the period. Moseley Investment Management Inc. bought a new position in shares of Brookfield Asset Management in the 4th quarter worth approximately $233,000. Finally, Hemington Wealth Management bought a new position in shares of Brookfield Asset Management in the 4th quarter worth approximately $211,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Price Performance

NYSE BAM traded down $0.99 during mid-day trading on Wednesday, reaching $39.16. The stock had a trading volume of 869,036 shares, compared to its average volume of 1,331,533. The stock has a market cap of $17.38 billion, a PE ratio of 37.19, a price-to-earnings-growth ratio of 1.95 and a beta of 1.57. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $44.38. The company has a fifty day moving average price of $39.58 and a 200 day moving average price of $40.13.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The firm had revenue of $884.00 million during the quarter. As a group, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Wall Street Analyst Weigh In

BAM has been the topic of several recent research reports. CIBC upped their price target on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research note on Friday, July 19th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday. Royal Bank of Canada lifted their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Scotiabank upped their price objective on shares of Brookfield Asset Management from $44.50 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, TD Securities raised their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $42.67.

Brookfield Asset Management Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.