DekaBank Deutsche Girozentrale Lowers Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

DekaBank Deutsche Girozentrale decreased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 11.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,236 shares of the financial services provider's stock after selling 10,572 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Brookfield Asset Management were worth $3,606,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Bank of Nova Scotia Trust Co. boosted its stake in shares of Brookfield Asset Management by 4.4% during 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 acquiring an additional 263 shares during the last quarter. CWM LLC grew its holdings in Brookfield Asset Management by 12.2% during the second 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 during the period. Choate Investment Advisors increased its position in Brookfield Asset Management by 3.3% in the first quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider's stock worth $374,000 after buying an additional 285 shares in 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 buying an additional 285 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its holdings 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 in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BAM. Bank of America increased their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. Jefferies Financial Group began coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They issued a "hold" rating and a $43.00 price objective on the stock. StockNews.com downgraded Brookfield Asset Management from a "hold" rating to a "sell" rating in a research note on Wednesday, August 7th. Scotiabank upped their price target on Brookfield Asset Management from $45.50 to $55.50 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price objective on shares of Brookfield Asset Management from $42.00 to $48.00 and gave the company an "underweight" rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Brookfield Asset Management currently has an average rating of "Hold" and an average target price of $48.32.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded up $0.15 on Friday, reaching $53.19. The company's stock had a trading volume of 1,214,343 shares, compared to its average volume of 1,264,194. The company has a 50-day simple moving average of $46.69 and a 200 day simple moving average of $42.06. Brookfield Asset Management Ltd. has a 52-week low of $29.83 and a 52-week high of $54.20. The company has a market cap of $23.63 billion, a P/E ratio of 48.24, a PEG ratio of 2.58 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $916.00 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $0.28 EPS. On average, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a $0.38 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 2.86%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 138.18%.

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.