Tritonpoint Wealth LLC Trims Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Tritonpoint Wealth LLC trimmed its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.9% during the first quarter, Holdings Channel.com reports. The fund owned 75,688 shares of the financial services provider’s stock after selling 696 shares during the period. Tritonpoint Wealth LLC’s holdings in Brookfield Asset Management were worth $3,667,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC raised its stake in shares of Brookfield Asset Management by 2.3% in the 4th quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock valued at $1,064,983,000 after acquiring an additional 447,642 shares during the period. Vanguard Group Inc. increased its stake in Brookfield Asset Management by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after buying an additional 263,660 shares during the period. TD Asset Management Inc. increased its stake in Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after buying an additional 1,359,126 shares during the period. Capital International Investors increased its stake in Brookfield Asset Management by 0.7% during the 4th quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock worth $873,354,000 after buying an additional 116,008 shares during the period. Finally, FIL Ltd increased its stake in Brookfield Asset Management by 3.9% during the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock worth $833,581,000 after buying an additional 574,978 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BAM shares. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Wells Fargo & Company increased their price objective on shares of Brookfield Asset Management from $54.00 to $55.00 and gave the company an “underweight” rating in a research report on Friday, May 23rd. TD Securities increased their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Morgan Stanley increased their price objective on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday, May 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.15.

Brookfield Asset Management Trading Down 2.8%

Shares of Brookfield Asset Management stock opened at $54.60 on Friday. The company has a fifty day simple moving average of $53.99 and a 200-day simple moving average of $54.38. Brookfield Asset Management Ltd. has a 12-month low of $37.30 and a 12-month high of $62.61. The stock has a market cap of $88.04 billion, a price-to-earnings ratio of 41.36, a PEG ratio of 1.92 and a beta of 1.51.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.29 billion. On average, analysts forecast that Brookfield Asset Management Ltd. will post 1.7 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 Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Friday, May 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 124.11%.

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.