Integrated Wealth Concepts LLC Sells 315 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Integrated Wealth Concepts LLC reduced its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,269 shares of the financial services provider’s stock after selling 315 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Brookfield Asset Management were worth $296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in BAM. The Manufacturers Life Insurance Company grew its holdings in Brookfield Asset Management by 68.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after purchasing an additional 2,788,611 shares during the period. Mackenzie Financial Corp lifted its holdings in Brookfield Asset Management by 19.5% in the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after purchasing an additional 2,205,040 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in Brookfield Asset Management in the 2nd quarter worth approximately $42,160,000. TD Asset Management Inc grew its holdings in Brookfield Asset Management by 8.5% during the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after buying an additional 1,066,015 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Brookfield Asset Management by 66.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock valued at $92,896,000 after buying an additional 784,250 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $57.78 on Friday. Brookfield Asset Management Ltd. has a 1-year low of $35.82 and a 1-year high of $59.58. The company’s 50-day moving average is $53.89 and its 200 day moving average is $45.55. The firm has a market capitalization of $24.25 billion, a P/E ratio of 51.13, a price-to-earnings-growth ratio of 2.37 and a beta of 1.41.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued 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. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same period last year, the company earned $0.35 EPS. Research analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Analyst Ratings Changes

A number of analysts have issued reports on BAM shares. Wells Fargo & Company lifted their price target on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a report on Thursday. Scotiabank increased their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. TD Securities lifted their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Bank of America increased their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $53.88.

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.