Dimensional Fund Advisors LP Reduces Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Dimensional Fund Advisors LP decreased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 38.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,318 shares of the financial services provider’s stock after selling 4,011 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Brookfield Asset Management were worth $342,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Ltd. CA increased its holdings in shares of Brookfield Asset Management by 0.3% during the 4th quarter. Capital International Ltd. CA now owns 161,077 shares of the financial services provider’s stock worth $8,729,000 after buying an additional 477 shares during the last quarter. Capital Group Private Client Services Inc. increased its holdings in Brookfield Asset Management by 75.3% in the fourth quarter. Capital Group Private Client Services Inc. now owns 72,538 shares of the financial services provider’s stock valued at $3,931,000 after buying an additional 31,162 shares during the last quarter. Capital International Investors increased its stake in Brookfield Asset Management by 0.7% during the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock valued at $873,354,000 after purchasing an additional 116,008 shares during the last quarter. Capital International Sarl boosted its stake in Brookfield Asset Management by 7.1% in the fourth quarter. Capital International Sarl now owns 235,964 shares of the financial services provider’s stock valued at $12,787,000 after acquiring an additional 15,661 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Brookfield Asset Management during the fourth quarter valued at $43,321,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BAM. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. TD Securities boosted their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Morgan Stanley raised their price target on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an “equal weight” rating in a report on Friday. Wells Fargo & Company boosted their price target on Brookfield Asset Management from $48.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, May 7th. Finally, StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.08.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $59.72 on Friday. The stock has a market cap of $96.29 billion, a P/E ratio of 45.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.56. The stock has a fifty day moving average price of $50.62 and a 200 day moving average price of $54.25. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 124.11%.

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.