Canal Capital Management LLC Trims Holdings in Brookfield Asset Management Ltd. $BAM
by Danessa Lincoln · The Markets DailyCanal Capital Management LLC trimmed its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) by 78.0% in the 4th quarter, Holdings Channel reports. The firm owned 20,471 shares of the financial services provider’s stock after selling 72,645 shares during the quarter. Canal Capital Management LLC’s holdings in Brookfield Asset Management were worth $1,072,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. PDS Planning Inc grew its holdings in shares of Brookfield Asset Management by 4.8% in the third quarter. PDS Planning Inc now owns 4,054 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 184 shares during the last quarter. Truist Financial Corp increased its stake in Brookfield Asset Management by 1.4% in the 3rd quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock worth $754,000 after buying an additional 187 shares during the period. Yousif Capital Management LLC lifted its holdings in Brookfield Asset Management by 2.1% during the 3rd quarter. Yousif Capital Management LLC now owns 11,010 shares of the financial services provider’s stock valued at $627,000 after buying an additional 226 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in Brookfield Asset Management by 38.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock valued at $48,000 after buying an additional 233 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its position in Brookfield Asset Management by 3.2% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,578 shares of the financial services provider’s stock valued at $431,000 after buying an additional 238 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on BAM shares. Royal Bank Of Canada set a $74.00 target price on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Monday, December 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, December 22nd. JPMorgan Chase & Co. increased their price objective on Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Zacks Research upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Finally, Morgan Stanley set a $63.00 target price on Brookfield Asset Management in a research report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Brookfield Asset Management has a consensus rating of “Moderate Buy” and an average price target of $63.65.
View Our Latest Analysis on BAM
Brookfield Asset Management Trading Down 1.1%
NYSE:BAM opened at $43.48 on Friday. Brookfield Asset Management Ltd. has a one year low of $41.78 and a one year high of $64.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $71.21 billion, a P/E ratio of 28.60, a P/E/G ratio of 1.56 and a beta of 1.42. The firm has a 50-day simple moving average of $49.35 and a 200-day simple moving average of $52.92.
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. Equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.
Brookfield Asset Management Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be issued a dividend of $0.5025 per share. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, February 27th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.24%.
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.
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