Intech Investment Management LLC Sells 20,749 Shares of Brookfield Asset Management Ltd. $BAM

Intech Investment Management LLC lessened its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 53.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,973 shares of the financial services provider’s stock after selling 20,749 shares during the quarter. Intech Investment Management LLC’s holdings in Brookfield Asset Management were worth $942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BAM. LOM Asset Management Ltd bought a new position in Brookfield Asset Management in the fourth quarter valued at $31,000. eCIO Inc. bought a new position in Brookfield Asset Management in the fourth quarter valued at $42,000. Assetmark Inc. increased its stake in Brookfield Asset Management by 95.9% in the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 395 shares during the last quarter. Cary Street Partners Financial LLC increased its stake in Brookfield Asset Management by 227.5% in the third quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 562 shares during the last quarter. Finally, Allworth Financial LP increased its stake in Brookfield Asset Management by 47.8% in the fourth quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 333 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on BAM shares. Weiss Ratings cut Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. Scotiabank reissued an “outperform” rating and issued a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. Piper Sandler reissued 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, May 18th. Canadian Imperial Bank of Commerce set a $62.50 target price on Brookfield Asset Management in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. reduced their target price on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and an average price target of $60.21.

Brookfield Asset Management Stock Up 0.1%

Shares of NYSE:BAM opened at $46.21 on Monday. The stock’s 50-day moving average price is $47.14 and its 200-day moving average price is $49.31. Brookfield Asset Management Ltd. has a 12-month low of $42.20 and a 12-month high of $64.10. The stock has a market capitalization of $75.69 billion, a P/E ratio of 30.01, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.43 billion. On average, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.75 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

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

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.