Culbertson A N & Co. Inc. Reduces Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Culbertson A N & Co. Inc. trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 6.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,105 shares of the financial services provider’s stock after selling 917 shares during the quarter. Culbertson A N & Co. Inc.’s holdings in Brookfield Asset Management were worth $667,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BAM. Virtu Financial LLC purchased a new position in shares of Brookfield Asset Management in the fourth quarter valued at about $392,000. Vanguard Group Inc. increased its holdings in Brookfield Asset Management by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 10,573,649 shares of the financial services provider’s stock valued at $424,743,000 after purchasing an additional 170,764 shares during the period. PNC Financial Services Group Inc. raised its position in Brookfield Asset Management by 4.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 61,925 shares of the financial services provider’s stock valued at $2,488,000 after purchasing an additional 2,882 shares during the last quarter. First Hawaiian Bank lifted its holdings in Brookfield Asset Management by 127.6% in the 1st quarter. First Hawaiian Bank now owns 26,558 shares of the financial services provider’s stock worth $1,116,000 after buying an additional 14,889 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings in Brookfield Asset Management by 41.0% in the 1st quarter. Park Avenue Securities LLC now owns 15,721 shares of the financial services provider’s stock worth $661,000 after buying an additional 4,572 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on BAM shares. JPMorgan Chase & Co. decreased their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. BMO Capital Markets upped their price objective on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, September 11th. The Goldman Sachs Group lifted their target price on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, September 30th. TD Securities increased their price target on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They issued a “hold” rating and a $43.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.41.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $50.30 on Thursday. The company has a 50 day simple moving average of $44.06 and a two-hundred day simple moving average of $41.21. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $50.44. The company has a market capitalization of $22.32 billion, a price-to-earnings ratio of 46.57, a P/E/G ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The company had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same period last year, the business earned $0.28 EPS. On average, analysts forecast that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio is presently 140.74%.

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.