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

Massachusetts Financial Services Co. MA lessened its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 owned about 1.33% of Brookfield Asset Management worth $224,525,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. YHB Investment Advisors Inc. acquired a new stake in shares of Brookfield Asset Management in the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV lifted 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 worth $30,000 after buying an additional 385 shares during the last quarter. Continuum Advisory LLC lifted its holdings in 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 buying an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 758 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its holdings in shares of 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 valued at $40,000 after acquiring an additional 640 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BAM has been the subject of a number of research reports. TD Securities boosted their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, August 6th. Wells Fargo & Company assumed coverage on shares of Brookfield Asset Management in a report on Thursday, September 12th. They issued an "underweight" rating and a $42.00 target price on the stock. Scotiabank reduced their price objective on Brookfield Asset Management from $46.00 to $45.50 and set a "sector outperform" rating for the company in a research report on Thursday, August 8th. BMO Capital Markets increased their target price on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They set a "hold" rating and a $43.00 price target for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $43.81.

Brookfield Asset Management Price Performance

Shares of NYSE BAM traded up $0.12 during mid-day trading on Wednesday, reaching $45.67. 745,500 shares of the company traded hands, compared to its average volume of 1,313,039. The firm has a market cap of $20.27 billion, a PE ratio of 42.27, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $46.28. The stock has a fifty day simple moving average of $41.40 and a 200-day simple moving average of $40.34.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $916.00 million for 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 quarter last year, the business posted $0.28 earnings per share. As a group, analysts predict that Brookfield Asset Management Ltd. will post 1.42 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, August 30th. Brookfield Asset Management's payout ratio 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.