Check Capital Management Inc. CA Sells 973 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Check Capital Management Inc. CA lessened its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,536 shares of the financial services provider’s stock after selling 973 shares during the quarter. Brookfield Asset Management comprises approximately 0.1% of Check Capital Management Inc. CA’s portfolio, making the stock its 18th biggest holding. Check Capital Management Inc. CA’s holdings in Brookfield Asset Management were worth $2,484,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. TD Asset Management Inc boosted its stake in Brookfield Asset Management by 8.5% in the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after purchasing an additional 1,066,015 shares during the period. Mackenzie Financial Corp boosted its position in shares of Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after acquiring an additional 2,205,040 shares during the period. Vanguard Group Inc. grew its stake in Brookfield Asset Management by 1.8% during the first quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock valued at $452,153,000 after acquiring an additional 186,765 shares in the last quarter. Principal Financial Group Inc. grew its stake in Brookfield Asset Management by 0.3% during the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after acquiring an additional 24,409 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Brookfield Asset Management by 68.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock worth $260,770,000 after acquiring an additional 2,788,611 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BAM. Keefe, Bruyette & Woods boosted their price target on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Scotiabank upped their target price on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Wells Fargo & Company upped their price objective on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group started coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They set a “hold” rating and a $43.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Brookfield Asset Management has a consensus rating of “Hold” and an average price target of $52.54.

Brookfield Asset Management Trading Down 0.9 %

NYSE BAM opened at $56.07 on Friday. The firm has a market cap of $24.84 billion, a PE ratio of 49.62, a price-to-earnings-growth ratio of 2.36 and a beta of 1.42. Brookfield Asset Management Ltd. has a 1-year low of $32.76 and a 1-year high of $58.53. The stock has a 50-day moving average of $49.38 and a 200-day moving average of $43.16.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.71%. Brookfield Asset Management’s payout ratio is currently 134.51%.

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.