Brookfield Asset Management Ltd. (NYSE:BAM) Short Interest Update

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) was the target of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 7,280,000 shares, a decline of 10.6% from the November 30th total of 8,140,000 shares. Based on an average daily trading volume, of 988,900 shares, the short-interest ratio is currently 7.4 days. Currently, 5.3% of the company’s stock are short sold.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds have recently added to or reduced their stakes in the stock. TD Asset Management Inc lifted its position in shares of 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 acquiring an additional 1,066,015 shares during the period. Mackenzie Financial Corp raised its stake in 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 purchasing an additional 2,205,040 shares in the last quarter. Bank of Montreal Can lifted its position in Brookfield Asset Management by 0.5% during the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock worth $435,729,000 after purchasing an additional 43,134 shares during the period. 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 worth $419,400,000 after buying 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% in the 2nd 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 buying an additional 2,788,611 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 0.7 %

Shares of BAM traded down $0.40 during midday trading on Wednesday, reaching $54.19. 462,784 shares of the stock were exchanged, compared to its average volume of 1,213,455. The stock’s 50 day simple moving average is $55.83 and its 200 day simple moving average is $47.31. The company has a market cap of $24.01 billion, a P/E ratio of 47.96, a PEG ratio of 2.43 and a beta of 1.41. Brookfield Asset Management has a twelve month low of $37.19 and a twelve month high of $59.58.

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

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 134.51%.

Analyst Ratings Changes

A number of research analysts have recently commented on BAM shares. The Goldman Sachs Group lifted their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. UBS Group started coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating for the company. Wells Fargo & Company upped their price objective on Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a research note on Thursday, December 12th. Royal Bank of Canada lifted their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, StockNews.com raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $54.54.

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.