Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank trimmed its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 49.2% in the first quarter, HoldingsChannel reports. The firm owned 792,338 shares of the financial services provider’s stock after selling 768,097 shares during the period. Toronto Dominion Bank’s holdings in Brookfield Asset Management were worth $33,294,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. YHB Investment Advisors Inc. purchased a new position in shares of Brookfield Asset Management during the 1st quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Brookfield Asset Management by 574.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 758 shares in the last quarter. Quent Capital LLC increased its stake in shares of Brookfield Asset Management by 62.4% during the 1st quarter. Quent Capital LLC now owns 1,132 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 435 shares in the last quarter. Bfsg LLC purchased a new position in shares of Brookfield Asset Management during the 4th quarter worth approximately $51,000. Finally, Headlands Technologies LLC purchased a new position in shares of Brookfield Asset Management during the 1st quarter worth approximately $53,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BAM has been the subject of a number of recent research reports. Royal Bank of Canada raised their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. assumed coverage on shares of Brookfield Asset Management in a research note on Wednesday, May 15th. They set a “neutral” rating and a $41.00 price objective for the company. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. CIBC lifted their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research note on Friday, July 19th. Finally, Scotiabank lowered their target price on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a research note on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $42.32.

Brookfield Asset Management Stock Up 1.5 %

Shares of NYSE BAM traded up $0.64 during trading on Friday, hitting $42.10. 633,641 shares of the company traded hands, compared to its average volume of 1,349,007. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $43.00. The company has a 50-day moving average price of $39.36 and a 200-day moving average price of $39.97. The firm has a market capitalization of $18.68 billion, a P/E ratio of 38.98, a P/E/G ratio of 1.91 and a beta of 1.62.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. The company had revenue of $884.00 million during the quarter. Research analysts predict that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were paid a dividend of $0.38 per share. The ex-dividend date was Friday, May 31st. This represents a $1.52 annualized dividend and a dividend yield of 3.61%. Brookfield Asset Management’s dividend payout ratio is presently 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.