MAI Capital Management Has $8.15 Million Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

MAI Capital Management reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 172,252 shares of the financial services provider’s stock after selling 410 shares during the quarter. MAI Capital Management’s holdings in Brookfield Asset Management were worth $8,146,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Hara Capital LLC acquired a new position in shares of Brookfield Asset Management in the 3rd quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 385 shares during the period. Continuum Advisory LLC boosted its position in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 285 shares in the last quarter. Richardson Financial Services Inc. grew its stake in Brookfield Asset Management by 368.3% during the second 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 during the period. Finally, WASHINGTON TRUST Co increased its holdings in Brookfield Asset Management by 151.3% in the second 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 in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Trading Down 0.5 %

Shares of NYSE:BAM opened at $55.47 on Tuesday. Brookfield Asset Management Ltd. has a 1-year low of $33.06 and a 1-year high of $58.53. The stock has a market cap of $24.57 billion, a PE ratio of 49.09, a price-to-earnings-growth ratio of 2.33 and a beta of 1.42. The stock’s fifty day simple moving average is $50.24 and its two-hundred day simple moving average is $43.55.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period in the previous year, the company earned $0.35 earnings per share. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price target on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the company an “underweight” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group increased their price objective on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. TD Securities boosted their target price on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Scotiabank raised their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Three investment 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $52.54.

Brookfield Asset Management Company Profile

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.