Massachusetts Financial Services Co. MA Trims Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Massachusetts Financial Services Co. MA trimmed its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,900,789 shares of the financial services provider’s stock after selling 11,218 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Brookfield Asset Management were worth $224,525,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. YHB Investment Advisors Inc. bought a new position in Brookfield Asset Management in the first quarter worth approximately $26,000. Massmutual Trust Co. FSB ADV grew its stake in Brookfield Asset Management by 98.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 385 shares in the last quarter. Continuum Advisory LLC grew its stake in Brookfield Asset Management by 57.6% in the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Brookfield Asset Management by 574.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 758 shares in the last quarter. Finally, WASHINGTON TRUST Co boosted its position in 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 valued at $40,000 after acquiring an additional 640 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Bank of America increased their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their target price 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. Jefferies Financial Group assumed 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. Finally, Wells Fargo & Company assumed coverage on Brookfield Asset Management in a research report on Thursday, September 12th. They set an “underweight” rating and a $42.00 target price on the stock. Three equities 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $43.81.

Brookfield Asset Management Trading Up 0.7 %

Shares of BAM opened at $45.54 on Wednesday. The firm has a market cap of $20.21 billion, a PE ratio of 42.17, a P/E/G ratio of 2.26 and a beta of 1.56. The stock has a fifty day moving average price of $41.40 and a 200-day moving average price of $40.34. Brookfield Asset Management Ltd. has a 12 month low of $28.35 and a 12 month high of $45.75.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $916.00 million during the quarter, compared to analysts’ expectations 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 last year, the business earned $0.28 EPS. As a group, research analysts forecast that Brookfield Asset Management Ltd. will post 1.42 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $0.38 dividend. 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 3.34%. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

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.