Chicago Partners Investment Group LLC Trims Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Chicago Partners Investment Group LLC trimmed its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,929 shares of the financial services provider’s stock after selling 1,066 shares during the period. Chicago Partners Investment Group LLC’s holdings in Brookfield Asset Management were worth $2,833,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BAM. TD Asset Management Inc raised its stake in Brookfield Asset Management by 8.5% in the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after buying an additional 1,066,015 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Brookfield Asset Management by 19.5% in the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after acquiring an additional 2,205,040 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Brookfield Asset Management by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock valued at $452,153,000 after purchasing an additional 186,765 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Brookfield Asset Management by 68.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after purchasing an additional 2,788,611 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Brookfield Asset Management by 8.4% during the second quarter. CIBC Asset Management Inc now owns 3,583,113 shares of the financial services provider’s stock valued at $136,318,000 after purchasing an additional 278,613 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Up 0.3 %

Shares of BAM opened at $53.19 on Friday. The company has a market cap of $23.63 billion, a price-to-earnings ratio of 48.35, a P/E/G ratio of 2.58 and a beta of 1.56. The business’s fifty day simple moving average is $46.92 and its two-hundred day simple moving average is $42.19. Brookfield Asset Management Ltd. has a 12 month low of $29.83 and a 12 month high of $54.20.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The business had revenue of $916.00 million for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business earned $0.28 earnings per share. As a group, research analysts forecast that Brookfield Asset Management Ltd. will post 1.43 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 2.86%. Brookfield Asset Management’s payout ratio is 138.18%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BAM. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They set a “hold” rating and a $43.00 target price for the company. Finally, CIBC boosted their price target on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $48.32.

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.