Malaga Cove Capital LLC Sells 700 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Malaga Cove Capital LLC lessened its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 6.7% during the third quarter, HoldingsChannel.com reports. The firm owned 9,735 shares of the financial services provider’s stock after selling 700 shares during the period. Malaga Cove Capital LLC’s holdings in Brookfield Asset Management were worth $460,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BAM. Massmutual Trust Co. FSB ADV lifted its position 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 in the last quarter. Continuum Advisory LLC boosted its position in 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 last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Brookfield Asset Management by 574.2% in 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 in the last quarter. Richardson Financial Services Inc. grew its stake in 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 valued at $37,000 after purchasing an additional 755 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its position in shares of Brookfield Asset Management by 151.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 640 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 2.5 %

Shares of NYSE BAM opened at $56.96 on Thursday. The firm has a market cap of $25.30 billion, a P/E ratio of 50.41, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42. The business’s 50 day moving average is $47.78 and its 200-day moving average is $42.55. Brookfield Asset Management Ltd. has a 1-year low of $30.59 and a 1-year high of $57.36.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same quarter last year, the business earned $0.35 EPS. Analysts forecast that Brookfield Asset Management Ltd. will post 1.43 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.67%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is 134.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BAM shares. Keefe, Bruyette & Woods increased their price objective on Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a report on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group began coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They set a “hold” rating and a $43.00 price objective on the stock. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Finally, CIBC lifted their price target on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a report on Friday, July 19th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $52.29.

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.