Hsbc Holdings PLC Sells 426,937 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Hsbc Holdings PLC trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 98.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,869 shares of the financial services provider's stock after selling 426,937 shares during the period. Hsbc Holdings PLC's holdings in Brookfield Asset Management were worth $263,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BAM. Bank of Nova Scotia Trust Co. raised its holdings in shares of Brookfield Asset Management by 4.4% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider's stock worth $261,000 after purchasing an additional 263 shares in the last quarter. CWM LLC increased its holdings in shares of Brookfield Asset Management by 12.2% in the second quarter. CWM LLC now owns 2,448 shares of the financial services provider's stock valued at $93,000 after buying an additional 267 shares in the last quarter. Choate Investment Advisors lifted its position in shares of Brookfield Asset Management by 3.3% during the 1st quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider's stock valued at $374,000 after acquiring an additional 285 shares during the last quarter. Continuum Advisory LLC lifted 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 acquiring an additional 285 shares during the last quarter. Finally, Adalta Capital Management LLC boosted its stake in shares of Brookfield Asset Management by 0.8% during the 1st quarter. Adalta Capital Management LLC now owns 43,494 shares of the financial services provider's stock worth $1,828,000 after acquiring an additional 366 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded up $0.35 during midday trading on Friday, hitting $47.78. 645,972 shares of the stock were exchanged, compared to its average volume of 1,286,896. The business's fifty day simple moving average is $42.94 and its two-hundred day simple moving average is $40.85. Brookfield Asset Management Ltd. has a 52-week low of $28.35 and a 52-week high of $48.15. The company has a market capitalization of $21.20 billion, a PE ratio of 44.24, a P/E/G ratio of 2.36 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced 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 in the prior year, the firm earned $0.28 earnings per share. As a group, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.42 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Asset Management's dividend payout ratio is presently 140.74%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BAM. Wells Fargo & Company assumed coverage on Brookfield Asset Management in a report on Thursday, September 12th. They set an "underweight" rating and a $42.00 target price for the company. Bank of America upped their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, September 12th. Jefferies Financial Group started coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They issued a "hold" rating and a $43.00 target price on the stock. JPMorgan Chase & Co. cut their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating on the stock in a report on Thursday, August 8th. Finally, TD Securities raised their price objective on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, August 6th. 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, Brookfield Asset Management presently has a consensus rating of "Hold" and an average price target of $44.19.

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.