Teacher Retirement System of Texas Lowers Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Teacher Retirement System of Texas cut its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 20.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,500 shares of the financial services provider’s stock after selling 16,500 shares during the quarter. Teacher Retirement System of Texas’ holdings in Brookfield Asset Management were worth $3,387,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings 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 period. Pathstone Holdings LLC boosted its position in shares of Brookfield Asset Management by 1.0% in the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock worth $1,379,000 after purchasing an additional 278 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Brookfield Asset Management by 1.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 60,805 shares of the financial services provider’s stock worth $2,875,000 after buying an additional 1,007 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Brookfield Asset Management by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock valued at $39,516,000 after buying an additional 45,670 shares in the last quarter. Finally, Icon Wealth Advisors LLC bought a new stake in Brookfield Asset Management in the third quarter worth $118,000. 68.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating on the stock in a research note on Thursday, March 20th. Keefe, Bruyette & Woods cut their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. Scotiabank decreased their price objective on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, February 13th. TD Securities increased their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Finally, BMO Capital Markets lifted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.38.

Brookfield Asset Management Trading Up 3.8 %

NYSE BAM opened at $51.43 on Tuesday. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The stock’s 50 day moving average is $55.17 and its 200 day moving average is $53.44. The stock has a market cap of $22.79 billion, a PE ratio of 38.96, a P/E/G ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. On average, analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a $0.4375 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.58%.

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.