Brookfield Asset Management Ltd. (NYSE:BAM) Stock Position Decreased by Nexus Investment Management ULC

Nexus Investment Management ULC cut its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,632 shares of the financial services provider’s stock after selling 330 shares during the period. Nexus Investment Management ULC’s holdings in Brookfield Asset Management were worth $267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. National Bank of Canada FI raised its stake in shares of Brookfield Asset Management by 15.5% during 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 in the last quarter. Confluence Investment Management LLC raised its stake in shares of Brookfield Asset Management by 382.6% in the 2nd quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock valued at $3,420,000 after acquiring an additional 71,263 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Brookfield Asset Management in the 1st quarter valued at approximately $3,014,000. Intact Investment Management Inc. bought a new position in shares of Brookfield Asset Management in the 2nd quarter valued at approximately $4,825,000. Finally, Pitcairn Co. bought a new position in shares of Brookfield Asset Management in the 1st quarter valued at approximately $525,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock opened at $48.68 on Wednesday. The firm has a market capitalization of $21.60 billion, a PE ratio of 45.07, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. The company’s fifty day moving average price is $43.83 and its two-hundred day moving average price is $41.15. Brookfield Asset Management Ltd. has a 52-week low of $28.35 and a 52-week high of $49.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly 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 net margin of 51.29% and a return on equity of 92.37%. The business had revenue of $916.00 million during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm earned $0.28 EPS. Analysts predict that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management’s payout ratio is 140.74%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BAM. CIBC raised their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research note on Friday, July 19th. Scotiabank cut their price objective on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a research note on Thursday, August 8th. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. BMO Capital Markets lifted their price target on 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, The Goldman Sachs Group upped their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.41.

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.