Douglass Winthrop Advisors LLC Has $134.77 Million Position in Brookfield Asset Management Ltd. $BAM

Douglass Winthrop Advisors LLC cut its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.4% during the 3rd quarter, Holdings Channel reports. The fund owned 2,366,825 shares of the financial services provider’s stock after selling 32,577 shares during the period. Brookfield Asset Management comprises approximately 2.3% of Douglass Winthrop Advisors LLC’s investment portfolio, making the stock its 17th largest position. Douglass Winthrop Advisors LLC’s holdings in Brookfield Asset Management were worth $134,767,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. UBS Group AG raised its holdings in shares of Brookfield Asset Management by 12.4% during the third quarter. UBS Group AG now owns 898,594 shares of the financial services provider’s stock valued at $51,166,000 after purchasing an additional 99,421 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Brookfield Asset Management by 72.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider’s stock worth $222,161,000 after purchasing an additional 1,642,375 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Brookfield Asset Management in the 3rd quarter valued at about $249,000. Van ECK Associates Corp grew its stake in shares of Brookfield Asset Management by 47.6% in the 3rd quarter. Van ECK Associates Corp now owns 149,093 shares of the financial services provider’s stock valued at $8,486,000 after buying an additional 48,075 shares during the period. Finally, NewGen Asset Management Ltd bought a new stake in Brookfield Asset Management in the 3rd quarter valued at about $3,977,000. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Price Performance

BAM stock opened at $44.66 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92. The business has a 50-day simple moving average of $50.56 and a two-hundred day simple moving average of $53.57. The company has a market capitalization of $73.15 billion, a P/E ratio of 29.38, a price-to-earnings-growth ratio of 1.60 and a beta of 1.42. Brookfield Asset Management Ltd. has a 52-week low of $41.78 and a 52-week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%.The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. Research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a yield of 4.5%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, February 27th. Brookfield Asset Management’s dividend payout ratio is currently 132.24%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BAM. BMO Capital Markets raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Scotiabank set a $64.00 target price on Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, December 22nd. Finally, The Goldman Sachs Group reduced their price target on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.65.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.