Cooke & Bieler LP Reduces Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Cooke & Bieler LP lowered its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,184,286 shares of the financial services provider’s stock after selling 65,000 shares during the period. Cooke & Bieler LP owned approximately 0.53% of Brookfield Asset Management worth $87,743,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in Brookfield Asset Management by 0.7% in the 1st quarter. American Century Companies Inc. now owns 38,228 shares of the financial services provider’s stock valued at $2,161,000 after purchasing an additional 268 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in Brookfield Asset Management by 35.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,057 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 277 shares during the last quarter. Guardian Wealth Management Inc. increased its holdings in Brookfield Asset Management by 0.6% in the 1st quarter. Guardian Wealth Management Inc. now owns 54,530 shares of the financial services provider’s stock valued at $3,085,000 after purchasing an additional 313 shares during the last quarter. Rhumbline Advisers increased its holdings in Brookfield Asset Management by 21.9% in the 3rd quarter. Rhumbline Advisers now owns 1,844 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 331 shares during the last quarter. Finally, Blue Fin Capital Inc. increased its holdings in Brookfield Asset Management by 2.0% in the 3rd quarter. Blue Fin Capital Inc. now owns 22,173 shares of the financial services provider’s stock valued at $739,000 after purchasing an additional 425 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BAM. HSBC downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. CIBC raised their price target on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Royal Bank of Canada raised their price target on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. TD Securities decreased their price target on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a research report on Tuesday, January 9th. Finally, BMO Capital Markets raised their price target on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Brookfield Asset Management presently has an average rating of “Moderate Buy” and a consensus target price of $42.20.

Brookfield Asset Management Trading Down 0.3 %

Brookfield Asset Management stock opened at $38.32 on Friday. The stock has a market cap of $15.83 billion, a P/E ratio of 33.91, a price-to-earnings-growth ratio of 1.48 and a beta of 1.68. The company has a fifty day simple moving average of $40.99 and a 200-day simple moving average of $37.56. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $1.13 billion during the quarter. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. During the same period last year, the firm posted $0.31 earnings per share. As a group, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.49 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were given a dividend of $0.38 per share. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Wednesday, February 28th. Brookfield Asset Management’s payout ratio is 134.51%.

Brookfield Asset Management 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.