Marathon Asset Management Ltd Sells 20,463 Shares of Brookfield Asset Management Ltd. $BAM

Marathon Asset Management Ltd trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 326,021 shares of the financial services provider’s stock after selling 20,463 shares during the quarter. Marathon Asset Management Ltd’s holdings in Brookfield Asset Management were worth $17,103,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BAM. AQR Capital Management LLC acquired a new stake in Brookfield Asset Management during the first quarter worth approximately $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Brookfield Asset Management by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock valued at $12,648,000 after purchasing an additional 24,013 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Brookfield Asset Management by 24.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 497 shares in the last quarter. Cerity Partners LLC grew its position in Brookfield Asset Management by 17.6% in the 2nd quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider’s stock worth $1,916,000 after purchasing an additional 5,184 shares in the last quarter. Finally, State Street Corp grew its position in Brookfield Asset Management by 11,172.2% in the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock worth $194,845,000 after purchasing an additional 3,493,431 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

BAM stock opened at $47.03 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. Brookfield Asset Management Ltd. has a 52 week low of $42.20 and a 52 week high of $64.10. The firm’s fifty day moving average is $46.09 and its 200 day moving average is $49.79. The firm has a market cap of $77.04 billion, a P/E ratio of 30.54, a P/E/G ratio of 1.97 and a beta of 1.28.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.43 billion. Research analysts predict that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be issued a dividend of $0.5025 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.01 annualized dividend and a dividend yield of 4.3%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 130.52%.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of research analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday. BMO Capital Markets upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Morgan Stanley lowered their target price on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Scotiabank restated an “outperform” rating and set a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. Finally, Weiss Ratings cut shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Hold” and an average target price of $60.21.

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.