Zurcher Kantonalbank Zurich Cantonalbank Sells 135,141 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 47.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,592 shares of the financial services provider’s stock after selling 135,141 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brookfield Asset Management were worth $5,770,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. YHB Investment Advisors Inc. purchased a new position in shares of Brookfield Asset Management in the first quarter worth $26,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Brookfield Asset Management by 98.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after buying an additional 385 shares during the last quarter. Continuum Advisory LLC raised its holdings in shares of Brookfield Asset Management by 57.6% in the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after buying an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Brookfield Asset Management by 574.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after buying an additional 758 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its holdings in shares of Brookfield Asset Management by 151.3% in the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after buying an additional 640 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Ratings Changes

BAM has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Scotiabank reduced their target price on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a report on Thursday, August 8th. CIBC raised their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a report on Friday, July 19th. Finally, TD Securities raised their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.46.

Brookfield Asset Management Stock Down 0.7 %

Shares of NYSE BAM traded down $0.29 during trading on Friday, hitting $40.33. The company had a trading volume of 307,295 shares, compared to its average volume of 1,298,864. The stock has a fifty day simple moving average of $40.20 and a two-hundred day simple moving average of $40.17. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $44.38. The firm has a market capitalization of $17.90 billion, a price-to-earnings ratio of 37.44, a price-to-earnings-growth ratio of 1.95 and a beta of 1.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. The company had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business earned $0.28 EPS. On average, analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $0.38 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 3.77%. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

About Brookfield Asset Management

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.