Marks Group Wealth Management Inc Sells 15,024 Shares of Brookfield Asset Management Ltd. $BAM

Marks Group Wealth Management Inc cut its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 9.3% in the third quarter, Holdings Channel.com reports. The firm owned 146,882 shares of the financial services provider’s stock after selling 15,024 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Brookfield Asset Management were worth $8,363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Brookfield Asset Management by 1,270.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 432 shares in the last quarter. Manchester Capital Management LLC grew its holdings in shares of Brookfield Asset Management by 559.5% during the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after buying an additional 442 shares in the last quarter. Sagard Holdings Management Inc. acquired a new stake in Brookfield Asset Management in the 2nd quarter valued at approximately $39,000. Assetmark Inc. lifted its stake in Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 395 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Brookfield Asset Management by 93.3% in the 3rd quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 401 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada set a $74.00 price target on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Monday, December 15th. Zacks Research raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday. UBS Group set a $52.00 price target on shares of Brookfield Asset Management in a research note on Friday. National Bank Financial cut their price target on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a research report on Monday, October 27th. Finally, Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Two investment 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.com, Brookfield Asset Management presently has an average rating of “Moderate Buy” and an average price target of $63.65.

Brookfield Asset Management Trading Up 1.1%

Shares of Brookfield Asset Management stock opened at $50.60 on Monday. The business has a fifty day simple moving average of $52.10 and a two-hundred day simple moving average of $54.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $82.88 billion, a price-to-earnings ratio of 33.29, a P/E/G ratio of 1.84 and a beta of 1.40. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a $0.5025 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.0%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 115.13%.

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.