Cortland Associates Inc. MO Has $30.65 Million Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Cortland Associates Inc. MO reduced its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 565,620 shares of the financial services provider’s stock after selling 9,156 shares during the quarter. Brookfield Asset Management makes up 3.5% of Cortland Associates Inc. MO’s holdings, making the stock its 13th largest holding. Cortland Associates Inc. MO’s holdings in Brookfield Asset Management were worth $30,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in shares of Brookfield Asset Management by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after buying an additional 168,170 shares in the last quarter. Avior Wealth Management LLC raised its stake in shares of Brookfield Asset Management by 2,857.1% in the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after buying an additional 10,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Brookfield Asset Management by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock valued at $39,516,000 after buying an additional 45,670 shares in the last quarter. LGT Capital Partners LTD. raised its stake in shares of Brookfield Asset Management by 11.5% in the 3rd quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock valued at $25,273,000 after buying an additional 55,000 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Brookfield Asset Management by 10.3% in the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after buying an additional 370,383 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $61.33 on Thursday. The company has a market capitalization of $27.18 billion, a P/E ratio of 54.27, a price-to-earnings-growth ratio of 2.15 and a beta of 1.45. The company’s 50 day moving average price is $56.09 and its two-hundred day moving average price is $49.68. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $61.51.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the company earned $0.35 earnings per share. Analysts forecast that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.48%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Wells Fargo & Company decreased their price objective on shares of Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. UBS Group started coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. The Goldman Sachs Group raised their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, TD Securities raised their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and an average target price of $54.38.

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.