Brookfield Asset Management Ltd. $BAM Shares Sold by Mcdonald Capital Investors Inc. CA

Mcdonald Capital Investors Inc. CA lessened its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 15.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 213,036 shares of the financial services provider’s stock after selling 40,421 shares during the period. Brookfield Asset Management makes up about 0.8% of Mcdonald Capital Investors Inc. CA’s holdings, making the stock its 17th biggest position. Mcdonald Capital Investors Inc. CA’s holdings in Brookfield Asset Management were worth $9,497,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Trust Co. of Vermont bought a new position in shares of Brookfield Asset Management in the second quarter worth $25,000. Alpine Bank Wealth Management purchased a new stake in shares of Brookfield Asset Management in the third quarter worth $26,000. Compass Financial Management LLC bought a new stake in Brookfield Asset Management during the second quarter valued at $27,000. Allied Private Wealth LLC bought a new stake in Brookfield Asset Management during the second quarter valued at $40,000. Finally, Root Financial Partners LLC bought a new stake in Brookfield Asset Management during the third quarter valued at $50,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on BAM. Deutsche Bank Aktiengesellschaft raised their price target on Brookfield Asset Management from $48.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, August 6th. Wall Street Zen cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Scotiabank restated an “outperform” rating and issued a $59.00 price objective on shares of Brookfield Asset Management in a research report on Thursday, August 6th. National Bank Financial raised their target price on shares of Brookfield Asset Management from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Morgan Stanley set a $54.00 target price on shares of Brookfield Asset Management in a research report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Brookfield Asset Management has an average rating of “Moderate Buy” and a consensus target price of $57.03.

Brookfield Asset Management Stock Performance

BAM stock opened at $46.79 on Wednesday. The firm’s 50-day moving average price is $47.40 and its two-hundred day moving average price is $47.93. Brookfield Asset Management Ltd. has a 12-month low of $42.20 and a 12-month high of $56.37.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.77 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were given a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, August 31st.

About Brookfield Asset Management

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.