Baskin Financial Services Inc. Sells 903 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Baskin Financial Services Inc. trimmed its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 287,536 shares of the financial services provider’s stock after selling 903 shares during the period. Brookfield Asset Management comprises about 1.2% of Baskin Financial Services Inc.’s portfolio, making the stock its 28th largest holding. Baskin Financial Services Inc.’s holdings in Brookfield Asset Management were worth $15,585,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BAM. Bank of Montreal Can boosted its stake in shares of Brookfield Asset Management by 0.5% in the 3rd quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock worth $435,729,000 after buying an additional 43,134 shares during the last quarter. Principal Financial Group Inc. boosted its position in Brookfield Asset Management by 0.3% in the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after purchasing an additional 24,409 shares during the last quarter. CIBC Asset Management Inc boosted its position in Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after purchasing an additional 370,383 shares during the last quarter. Douglass Winthrop Advisors LLC increased its position in shares of Brookfield Asset Management by 3.9% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock valued at $126,287,000 after purchasing an additional 99,020 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Brookfield Asset Management by 66.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock valued at $92,896,000 after purchasing an additional 784,250 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on BAM shares. Royal Bank of Canada boosted their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. UBS Group started coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating for the company. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Scotiabank boosted their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group raised their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.13.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $59.94 on Monday. The firm has a market cap of $26.56 billion, a price-to-earnings ratio of 53.04, a P/E/G ratio of 2.32 and a beta of 1.45. The firm has a fifty day moving average price of $56.41 and a 200 day moving average price of $50.02. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same quarter last year, the business posted $0.35 earnings per share. As a group, research analysts predict that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.

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.