Bank of Montreal Can Has $352.10 Million Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Bank of Montreal Can lowered its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,193,240 shares of the financial services provider’s stock after selling 446,319 shares during the period. Bank of Montreal Can owned approximately 2.07% of Brookfield Asset Management worth $352,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BAM. FIL Ltd increased its position in Brookfield Asset Management by 66.1% in the 4th quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock valued at $454,424,000 after buying an additional 4,501,410 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Brookfield Asset Management by 29.2% during the fourth quarter. TD Asset Management Inc now owns 11,498,183 shares of the financial services provider’s stock valued at $464,078,000 after acquiring an additional 2,595,793 shares in the last quarter. Capital World Investors raised its position in shares of Brookfield Asset Management by 10.0% during the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock worth $986,656,000 after purchasing an additional 2,241,372 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of Brookfield Asset Management in the 2nd quarter worth $42,160,000. Finally, Madison Asset Management LLC lifted its holdings in shares of Brookfield Asset Management by 152.9% in the 4th quarter. Madison Asset Management LLC now owns 1,440,023 shares of the financial services provider’s stock worth $57,846,000 after purchasing an additional 870,700 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 1.8 %

Shares of Brookfield Asset Management stock opened at $46.85 on Monday. The firm has a market capitalization of $20.79 billion, a P/E ratio of 43.38, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. The business’s fifty day simple moving average is $41.81 and its 200 day simple moving average is $40.45. Brookfield Asset Management Ltd. has a 12 month low of $28.35 and a 12 month high of $47.74.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Analysts predict that Brookfield Asset Management Ltd. will post 1.42 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Friday, August 30th. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

Analysts Set New Price Targets

A number of analysts have commented on BAM shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. The Goldman Sachs Group lifted their price target on Brookfield Asset Management from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. TD Securities boosted their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. dropped their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Three 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $43.81.

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.