Cooke & Bieler LP Has $74.49 Million Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Cooke & Bieler LP trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,957,661 shares of the financial services provider’s stock after selling 21,445 shares during the period. Cooke & Bieler LP’s holdings in Brookfield Asset Management were worth $74,489,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Beutel Goodman & Co Ltd. raised its holdings in shares of Brookfield Asset Management by 114.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock valued at $279,387,000 after purchasing an additional 3,695,774 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Brookfield Asset Management by 15.5% in the first quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock valued at $31,742,000 after purchasing an additional 107,245 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Brookfield Asset Management by 42.4% in the fourth quarter. Hsbc Holdings PLC now owns 628,945 shares of the financial services provider’s stock valued at $25,265,000 after purchasing an additional 187,250 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Brookfield Asset Management by 17.1% in the fourth quarter. Wells Fargo & Company MN now owns 692,801 shares of the financial services provider’s stock valued at $27,842,000 after purchasing an additional 100,997 shares during the last quarter. Finally, Partners Value Investments L.P. raised its holdings in shares of Brookfield Asset Management by 0.9% in the fourth quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock valued at $1,237,556,000 after purchasing an additional 280,098 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BAM shares. Jefferies Financial Group started coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They issued a “hold” rating and a $43.00 price objective on the stock. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. 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, August 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $42.46.

Brookfield Asset Management Trading Down 1.9 %

NYSE BAM traded down $0.79 during trading on Wednesday, hitting $39.90. 583,246 shares of the company’s stock were exchanged, compared to its average volume of 1,299,172. The company has a market cap of $17.71 billion, a PE ratio of 36.71, a P/E/G ratio of 2.09 and a beta of 1.57. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $44.38. The stock’s 50 day moving average price is $40.41 and its two-hundred day moving average price is $40.18.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same quarter last year, the firm posted $0.28 earnings per share. Analysts forecast that Brookfield Asset Management Ltd. will post 1.42 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Asset Management’s payout ratio is presently 140.74%.

Brookfield Asset Management Company 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.