United Services Automobile Association Cuts Position in Brookfield Asset Management Ltd. (NYSE:BAM)

United Services Automobile Association decreased its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,352 shares of the financial services provider’s stock after selling 300 shares during the quarter. United Services Automobile Association’s holdings in Brookfield Asset Management were worth $546,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors L.P. lifted its position in shares of Brookfield Asset Management by 8.0% during the 4th quarter. Natixis Advisors L.P. now owns 55,203 shares of the financial services provider’s stock worth $2,217,000 after purchasing an additional 4,067 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Brookfield Asset Management by 14.7% during the 4th quarter. Private Advisor Group LLC now owns 12,511 shares of the financial services provider’s stock worth $503,000 after buying an additional 1,599 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Brookfield Asset Management during the 4th quarter worth about $485,000. NBC Securities Inc. increased its holdings in shares of Brookfield Asset Management by 4.7% in the 4th quarter. NBC Securities Inc. now owns 6,139 shares of the financial services provider’s stock valued at $246,000 after acquiring an additional 277 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of Brookfield Asset Management in the 4th quarter valued at about $221,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 1.2 %

BAM opened at $42.73 on Wednesday. Brookfield Asset Management Ltd. has a 52 week low of $28.35 and a 52 week high of $44.38. The business has a 50 day moving average price of $40.76 and a two-hundred day moving average price of $40.20. The company has a market cap of $18.96 billion, a PE ratio of 39.56, a P/E/G ratio of 2.09 and a beta of 1.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $916.00 million for the quarter, compared to analyst estimates 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 period in the prior year, the business earned $0.28 earnings per share. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.42 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid 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 dividend yield of 3.56%. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

Analyst Ratings Changes

Several research firms recently weighed in on BAM. JPMorgan Chase & Co. decreased their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Scotiabank cut their price target on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a research note on Thursday, August 8th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group started coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They set a “hold” rating and a $43.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.46.

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.