By otakuyassine3@gmail.com 
PNC Financial Services Group Inc. cut its position in Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) by 3.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 58,890 shares of the financial services provider’s stock after selling 1,915 shares during the period. PNC Financial Services Group Inc.’s holdings in Brookfield Asset Management were worth $3,191,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Bank of Montreal Can raised its position in Brookfield Asset Management by 0.5% in the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock valued at $435,729,000 after purchasing an additional 43,134 shares during the last quarter. Principal Financial Group Inc. raised its position in Brookfield Asset Management by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock valued at $483,963,000 after purchasing an additional 62,908 shares during the last quarter. CIBC Asset Management Inc raised its position in Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after purchasing an additional 370,383 shares during the last quarter. Douglass Winthrop Advisors LLC increased its stake in shares of Brookfield Asset Management by 3.9% in the third quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock valued at $126,287,000 after buying an additional 99,020 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Brookfield Asset Management by 66.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock valued at $92,896,000 after buying an additional 784,250 shares during the period. 68.41% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
BAM has been the subject of several recent research reports. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. The Goldman Sachs Group increased their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. UBS Group initiated coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating for the company. Keefe, Bruyette & Woods decreased their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. Finally, CIBC increased their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.71.
Get Our Latest Report on Brookfield Asset Management
Brookfield Asset Management Stock Performance
Shares of NYSE:BAM opened at $45.65 on Friday. The business’s 50 day simple moving average is $55.88 and its two-hundred day simple moving average is $52.88. The firm has a market cap of $20.23 billion, a P/E ratio of 34.58, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61.
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. On average, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.
Brookfield Asset Management Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a $0.4375 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.83%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.
Brookfield Asset Management 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.
See Also
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