Fmr LLC Reduces Position in Brookfield Asset Management Ltd. (NYSE:BAM)

FMR LLC trimmed its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 7.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,198,643 shares of the financial services provider's stock after selling 1,504,454 shares during the quarter. FMR LLC owned approximately 4.33% of Brookfield Asset Management worth $907,804,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BAM. CWM LLC lifted its holdings in Brookfield Asset Management by 12.2% in the 2nd quarter. CWM LLC now owns 2,448 shares of the financial services provider's stock valued at $93,000 after purchasing an additional 267 shares in the last quarter. Pathstone Holdings LLC lifted its stake in shares of Brookfield Asset Management by 1.0% during the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider's stock valued at $1,379,000 after buying an additional 278 shares during the period. Continuum Advisory LLC boosted its position in Brookfield Asset Management by 57.6% during the second 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 last quarter. Foundations Investment Advisors LLC grew its stake in Brookfield Asset Management by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider's stock worth $315,000 after acquiring an additional 315 shares during the period. Finally, Procyon Advisors LLC grew its stake in Brookfield Asset Management by 4.2% in the 3rd quarter. Procyon Advisors LLC now owns 9,063 shares of the financial services provider's stock worth $429,000 after acquiring an additional 366 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock traded down $0.55 during trading on Thursday, reaching $57.26. 665,753 shares of the company's stock were exchanged, compared to its average volume of 1,255,638. Brookfield Asset Management Ltd. has a 52-week low of $33.45 and a 52-week high of $58.53. The firm has a market cap of $25.36 billion, a price-to-earnings ratio of 50.67, a PEG ratio of 2.31 and a beta of 1.42. The company's 50-day moving average is $52.03 and its two-hundred day moving average is $44.42.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same quarter in the prior year, the business earned $0.35 earnings per share. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management's dividend payout ratio (DPR) is 134.51%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BAM shares. Keefe, Bruyette & Woods raised their price objective on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an "underperform" rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price target on Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. StockNews.com raised shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Thursday, November 21st. BMO Capital Markets raised their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 5th. Finally, Bank of America upped their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $53.46.

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.