Crossmark Global Holdings Inc. Sells 9,030 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Crossmark Global Holdings Inc. lessened its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 30.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,444 shares of the financial services provider’s stock after selling 9,030 shares during the period. Crossmark Global Holdings Inc.’s holdings in Brookfield Asset Management were worth $967,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hara Capital LLC bought a new position in Brookfield Asset Management in the third quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV increased its stake in shares of 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 raised its position 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 valued at $30,000 after purchasing an additional 285 shares during the period. Richardson Financial Services Inc. lifted its stake in shares of Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after buying an additional 755 shares in the last quarter. Finally, WASHINGTON TRUST Co boosted its holdings in Brookfield Asset Management by 151.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after buying 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 $56.07 on Friday. The company has a market cap of $24.84 billion, a PE ratio of 50.08, a price-to-earnings-growth ratio of 2.47 and a beta of 1.42. The stock’s 50 day simple moving average is $49.38 and its two-hundred day simple moving average is $43.16. Brookfield Asset Management Ltd. has a 1 year low of $32.76 and a 1 year high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the company earned $0.35 earnings per share. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.71%. Brookfield Asset Management’s payout ratio is 134.51%.

Analyst Ratings Changes

Several brokerages have recently commented on BAM. Scotiabank boosted their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods increased their price objective on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Royal Bank of Canada boosted their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday. Finally, Wells Fargo & Company boosted their price target on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $52.54.

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.