DORCHESTER WEALTH MANAGEMENT Co Sells 444 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

DORCHESTER WEALTH MANAGEMENT Co cut its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,702 shares of the financial services provider’s stock after selling 444 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Brookfield Asset Management were worth $411,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in Brookfield Asset Management by 68.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock worth $260,770,000 after purchasing an additional 2,788,611 shares during the period. Mackenzie Financial Corp grew its stake in shares of Brookfield Asset Management by 19.5% in the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after buying an additional 2,205,040 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in Brookfield Asset Management during the 2nd quarter valued at approximately $42,160,000. TD Asset Management Inc raised its stake in Brookfield Asset Management by 8.5% during the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after buying an additional 1,066,015 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Brookfield Asset Management by 49.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,779,015 shares of the financial services provider’s stock worth $74,802,000 after acquiring an additional 591,130 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock traded up $1.28 during mid-day trading on Thursday, reaching $51.93. 416,262 shares of the stock traded hands, compared to its average volume of 1,259,602. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $52.24. The business’s 50-day moving average is $45.17 and its 200-day moving average is $41.55. The stock has a market capitalization of $23.04 billion, a PE ratio of 46.90, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $916.00 million for the quarter, compared to analysts’ expectations of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same period in the previous year, the company earned $0.28 EPS. Equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a $0.38 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.52 annualized dividend and a yield of 2.93%. Brookfield Asset Management’s payout ratio is presently 140.74%.

Analysts Set New Price Targets

BAM has been the subject of several analyst reports. The Goldman Sachs Group raised their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a report on Monday, September 30th. Bank of America lifted their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.41.

About Brookfield Asset Management

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.