Tandem Capital Management Corp ADV Cuts Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Tandem Capital Management Corp ADV cut its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 38,936 shares of the financial services provider’s stock after selling 863 shares during the period. Tandem Capital Management Corp ADV’s holdings in Brookfield Asset Management were worth $1,841,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV lifted its stake in Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after buying an additional 385 shares in the last quarter. Continuum Advisory LLC lifted its position in shares of Brookfield Asset Management by 57.6% in the second 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 in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of 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 acquiring an additional 758 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in shares of 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 worth $37,000 after acquiring an additional 755 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its position in shares of Brookfield Asset Management by 151.3% during the second 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 in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. BMO Capital Markets raised their price objective on Brookfield Asset Management from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Wednesday, September 11th. The Goldman Sachs Group boosted their price target on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. TD Securities raised their target price on shares of Brookfield Asset Management from $50.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, CIBC boosted their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a report on Friday, July 19th. Two 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $48.32.

Brookfield Asset Management Stock Performance

BAM opened at $53.80 on Thursday. The stock has a market capitalization of $23.87 billion, a PE ratio of 49.81, a P/E/G ratio of 2.26 and a beta of 1.56. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $54.20. The business’s 50 day moving average price is $46.43 and its 200 day moving average price is $41.98.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $916.00 million during 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 period last year, the company earned $0.28 EPS. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.83%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 140.74%.

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.