Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Baskin Financial Services Inc.

Baskin Financial Services Inc. reduced its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 288,439 shares of the financial services provider’s stock after selling 10,253 shares during the period. Brookfield Asset Management makes up approximately 1.1% of Baskin Financial Services Inc.’s portfolio, making the stock its 28th largest position. Baskin Financial Services Inc. owned about 0.07% of Brookfield Asset Management worth $13,627,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV raised its stake in shares of Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after buying an additional 385 shares in the last quarter. Continuum Advisory LLC raised its position in Brookfield Asset Management by 57.6% in the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Brookfield Asset Management by 574.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 758 shares during the period. Richardson Financial Services Inc. boosted its position in shares of Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 755 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its stake in shares of Brookfield Asset Management by 151.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 640 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on BAM shares. Wells Fargo & Company raised their price objective on shares of Brookfield Asset Management from $42.00 to $48.00 and gave the company an “underweight” rating in a research note on Wednesday, October 9th. Scotiabank dropped their price objective on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised their price target on Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. BMO Capital Markets boosted their price objective on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th. Finally, CIBC raised their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.41.

Brookfield Asset Management Stock Performance

NYSE BAM traded up $1.02 during trading hours on Wednesday, hitting $49.69. 249,901 shares of the company’s stock were exchanged, compared to its average volume of 1,262,953. The business’s 50 day moving average is $43.83 and its 200-day moving average is $41.15. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $49.70. The firm has a market capitalization of $22.05 billion, a P/E ratio of 45.07, 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 earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The company had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business posted $0.28 earnings per share. As a group, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 140.74%.

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.