Quent Capital LLC Sells 432 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Quent Capital LLC trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 38.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 700 shares of the financial services provider’s stock after selling 432 shares during the quarter. Quent Capital LLC’s holdings in Brookfield Asset Management were worth $27,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Beutel Goodman & Co Ltd. grew its holdings in Brookfield Asset Management by 114.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock worth $279,387,000 after acquiring an additional 3,695,774 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Brookfield Asset Management by 15.5% in the 1st quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock worth $31,742,000 after purchasing an additional 107,245 shares during the period. Wells Fargo & Company MN lifted its position in shares of Brookfield Asset Management by 17.1% in the 4th quarter. Wells Fargo & Company MN now owns 692,801 shares of the financial services provider’s stock worth $27,842,000 after purchasing an additional 100,997 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Brookfield Asset Management by 42.4% during the fourth quarter. Hsbc Holdings PLC now owns 628,945 shares of the financial services provider’s stock valued at $25,265,000 after purchasing an additional 187,250 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in Brookfield Asset Management by 127.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 62,914 shares of the financial services provider’s stock valued at $2,537,000 after buying an additional 35,300 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock traded down $0.99 during mid-day trading on Wednesday, reaching $39.16. 869,036 shares of the company traded hands, compared to its average volume of 1,331,533. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $44.38. The firm’s fifty day moving average is $39.58 and its two-hundred day moving average is $40.13. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 37.19, a price-to-earnings-growth ratio of 1.95 and a beta of 1.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results 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 return on equity of 98.98% and a net margin of 49.36%. The firm had revenue of $884.00 million for the quarter. As a group, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BAM. JPMorgan Chase & Co. upped their target price on Brookfield Asset Management from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Royal Bank of Canada upped their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday. CIBC increased their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research report on Friday, July 19th. Finally, Scotiabank raised their price target on shares of Brookfield Asset Management from $44.50 to $46.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two equities research 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $42.67.

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.