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

Massachusetts Financial Services Co. MA lessened its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 0.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,891,170 shares of the financial services provider's stock after selling 9,619 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.33% of Brookfield Asset Management worth $278,593,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BAM. Hara Capital LLC bought a new position in shares of Brookfield Asset Management during the 3rd quarter worth about $27,000. Massmutual Trust Co. FSB ADV grew its holdings in 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 valued at $30,000 after buying an additional 385 shares in the last quarter. Continuum Advisory LLC lifted its stake in Brookfield Asset Management by 57.6% in the 2nd 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. Richardson Financial Services Inc. increased its stake in Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider's stock worth $37,000 after acquiring an additional 755 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its stake in Brookfield Asset Management by 151.3% in the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 640 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Price Performance

Shares of BAM stock traded down $0.09 during trading on Friday, hitting $55.47. 1,036,222 shares of the stock traded hands, compared to its average volume of 1,184,244. Brookfield Asset Management Ltd. has a 52-week low of $33.45 and a 52-week high of $58.53. The firm's fifty day moving average price is $51.14 and its 200-day moving average price is $43.93. The firm has a market capitalization of $24.57 billion, a P/E ratio of 49.07, a price-to-earnings-growth ratio of 2.28 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM - Get Free Report) 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 the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same quarter in the prior year, the company earned $0.35 earnings per share. As a group, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management's payout ratio is currently 134.51%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BAM. Deutsche Bank Aktiengesellschaft lifted their price objective on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Keefe, Bruyette & Woods raised their target price on Brookfield Asset Management from $44.00 to $49.00 and gave the company an "underperform" rating in a research note on Tuesday, November 5th. The Goldman Sachs Group lifted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a "buy" rating in a report on Tuesday. Scotiabank increased their price objective on shares of 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. Finally, TD Securities increased their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. 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 stock. According to data from MarketBeat, Brookfield Asset Management presently has a consensus rating of "Hold" and an average target price of $53.46.

Brookfield Asset Management Company 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.