UMB Bank n.a. Reduces Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

UMB Bank n.a. lowered its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 44.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,078 shares of the financial services provider’s stock after selling 856 shares during the period. UMB Bank n.a.’s holdings in Brookfield Asset Management were worth $41,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BAM. Norges Bank purchased a new position in shares of Brookfield Asset Management in the fourth quarter valued at $239,421,000. FIL Ltd increased its position in shares of Brookfield Asset Management by 66.1% in the fourth 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. Beutel Goodman & Co Ltd. increased its position in shares of Brookfield Asset Management by 114.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock valued at $279,387,000 after buying an additional 3,695,774 shares in the last quarter. TD Asset Management Inc increased its position in shares of Brookfield Asset Management by 29.2% in 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 buying an additional 2,595,793 shares in the last quarter. Finally, Capital World Investors increased its position in shares of Brookfield Asset Management by 10.0% in the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock valued at $986,656,000 after buying an additional 2,241,372 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BAM. Deutsche Bank Aktiengesellschaft raised their price target on Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Scotiabank dropped their price objective on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group began coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They set a “hold” rating and a $43.00 price objective for the company. Finally, CIBC lifted their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and an average target price of $42.46.

Brookfield Asset Management Price Performance

NYSE BAM opened at $40.76 on Friday. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $44.38. The firm has a market capitalization of $18.09 billion, a P/E ratio of 37.74, a P/E/G ratio of 1.95 and a beta of 1.57. The business’s 50-day simple moving average is $40.31 and its 200-day simple moving average is $40.18.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results 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). Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. The business had revenue of $916.00 million for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm earned $0.28 earnings per share. On average, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 3.73%. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

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.