Royal London Asset Management Ltd. Decreases Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Royal London Asset Management Ltd. lowered its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 16.6% during the second quarter, HoldingsChannel reports. The firm owned 150,713 shares of the financial services provider’s stock after selling 29,950 shares during the period. Royal London Asset Management Ltd.’s holdings in Brookfield Asset Management were worth $5,735,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. purchased a new position in shares of Brookfield Asset Management during the 1st quarter worth $26,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 385 shares during the period. Continuum Advisory LLC raised its holdings in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Brookfield Asset Management by 574.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 758 shares during the period. Finally, WASHINGTON TRUST Co raised its holdings in shares of Brookfield Asset Management by 151.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 640 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $44.85 on Friday. The business’s fifty day moving average price is $41.11 and its 200 day moving average price is $40.29. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $45.24. The firm has a market capitalization of $19.91 billion, a PE ratio of 41.53, a P/E/G ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its 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 firm had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same period last year, the company posted $0.28 EPS. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.42 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $0.38 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 3.39%. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

Analysts Set New Price Targets

Several research analysts have recently commented on BAM shares. The Goldman Sachs Group lifted their price target on Brookfield Asset Management from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group assumed coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Bank of America raised their price objective on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Wells Fargo & Company assumed coverage on Brookfield Asset Management in a research report on Thursday. They set an “underweight” rating and a $42.00 price objective for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $43.81.

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.