Janus Henderson Group PLC Sells 1,623 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Janus Henderson Group PLC cut its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 89,635 shares of the financial services provider’s stock after selling 1,623 shares during the quarter. Janus Henderson Group PLC’s holdings in Brookfield Asset Management were worth $4,240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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 purchasing an additional 2,788,611 shares during the period. Mackenzie Financial Corp raised its holdings 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 in the last quarter. Dimensional Fund Advisors LP purchased a new stake in Brookfield Asset Management in the second quarter worth about $42,160,000. TD Asset Management Inc lifted its stake in Brookfield Asset Management by 8.5% in the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after acquiring an additional 1,066,015 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Brookfield Asset Management by 66.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after acquiring an additional 784,250 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BAM. Keefe, Bruyette & Woods upped their price target on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. BMO Capital Markets increased their target price on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Wells Fargo & Company upped their price objective on Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada raised their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management has an average rating of “Hold” and a consensus price target of $53.46.

Brookfield Asset Management Stock Down 0.3 %

Shares of Brookfield Asset Management stock opened at $57.25 on Wednesday. The company has a 50 day moving average price of $53.47 and a 200 day moving average price of $45.34. The firm has a market capitalization of $24.02 billion, a P/E ratio of 50.66, a PEG ratio of 2.37 and a beta of 1.41. Brookfield Asset Management Ltd. has a 52 week low of $35.65 and a 52 week high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company posted $0.35 earnings per share. As a group, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

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 paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.66%. Brookfield Asset Management’s payout ratio is presently 134.51%.

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.