Princeton Global Asset Management LLC Sells 5,162 Shares of Brookfield Asset Management Ltd. $BAM

Princeton Global Asset Management LLC lowered its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 83.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,000 shares of the financial services provider’s stock after selling 5,162 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Brookfield Asset Management were worth $55,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC boosted its position in shares of Brookfield Asset Management by 36.6% in the first quarter. Cerity Partners LLC now owns 29,482 shares of the financial services provider’s stock valued at $1,428,000 after acquiring an additional 7,901 shares during the period. Teacher Retirement System of Texas boosted its holdings in Brookfield Asset Management by 9.9% in the 1st quarter. Teacher Retirement System of Texas now owns 68,700 shares of the financial services provider’s stock valued at $3,329,000 after purchasing an additional 6,200 shares during the period. Vanguard Group Inc. grew its position in shares of Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock valued at $832,833,000 after purchasing an additional 302,852 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Brookfield Asset Management during the 1st quarter valued at $629,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Brookfield Asset Management by 9.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,096,412 shares of the financial services provider’s stock worth $53,083,000 after purchasing an additional 97,445 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 0.8%

Shares of NYSE BAM opened at $54.62 on Tuesday. The stock has a market capitalization of $89.45 billion, a P/E ratio of 36.66, a PEG ratio of 2.02 and a beta of 1.39. Brookfield Asset Management Ltd. has a one year low of $41.78 and a one year high of $64.10. The firm’s 50 day simple moving average is $58.55 and its two-hundred day simple moving average is $56.67. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.29 billion. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is 117.45%.

Analysts Set New Price Targets

Several research firms recently commented on BAM. TD Securities boosted their target price on Brookfield Asset Management from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Scotiabank boosted their price objective on Brookfield Asset Management from $66.00 to $67.25 and gave the stock a “sector outperform” rating in a report on Thursday, August 7th. Wells Fargo & Company raised their target price on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the company an “underweight” rating in a research note on Friday, July 11th. Royal Bank Of Canada boosted their price target on shares of Brookfield Asset Management from $74.00 to $76.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, Morgan Stanley set a $62.00 price target on shares of Brookfield Asset Management in a report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.27.

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.