Burgundy Asset Management Ltd. Trims Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Burgundy Asset Management Ltd. lowered its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 2.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,562,926 shares of the financial services provider's stock after selling 39,652 shares during the period. Burgundy Asset Management Ltd. owned about 0.35% of Brookfield Asset Management worth $59,470,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in BAM. YHB Investment Advisors Inc. purchased a new position in shares of Brookfield Asset Management in the first quarter worth about $26,000. Massmutual Trust Co. FSB ADV lifted its position 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 valued at $30,000 after purchasing an additional 385 shares during the last quarter. Continuum Advisory LLC boosted its stake in shares of Brookfield Asset Management by 57.6% during the second 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. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 758 shares during the period. Finally, Richardson Financial Services Inc. grew its holdings in shares of Brookfield Asset Management by 368.3% in the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider's stock worth $37,000 after purchasing an additional 755 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock traded up $2.03 during mid-day trading on Thursday, reaching $47.70. The stock had a trading volume of 1,224,036 shares, compared to its average volume of 1,312,547. The company has a 50-day moving average price of $41.69 and a two-hundred day moving average price of $40.43. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $47.74. The company has a market capitalization of $21.17 billion, a price-to-earnings ratio of 44.17, a PEG ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly 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). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The firm had revenue of $916.00 million during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter last year, the business earned $0.28 earnings per share. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.42 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

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 dividend of $0.38 per share. 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 3.19%. Brookfield Asset Management's dividend payout ratio is presently 140.74%.

Analyst Upgrades and Downgrades

BAM has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Wednesday, August 7th. The Goldman Sachs Group upped their price objective on shares of Brookfield Asset Management from $41.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft raised their target price on Brookfield Asset Management from $43.00 to $44.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. CIBC upped their price target on Brookfield Asset Management from $47.00 to $49.00 and gave the company an "outperformer" rating in a research report on Friday, July 19th. Finally, Wells Fargo & Company initiated coverage on Brookfield Asset Management in a research report on Thursday, September 12th. They issued an "underweight" rating and a $42.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $43.81.

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.