Brookfield Asset Management, a leading global alternative asset management company, has seen a significant reduction in the number of its holdings by Marathon Asset Management Ltd in the last quarter. The financial services provider reportedly sold 2,007,203 shares of Brookfield Asset Management, amounting to 75.3% of its holdings in the company. Marathon Asset Management Ltd now holds only 657,231 shares of Brookfield Asset Management’s stock after this substantial sell-off. The value of these remaining shares sits at $18,806,000 as per its filing with the Securities & Exchange Commission.
In recent times, Brookfield’s stocks have witnessed mixed reviews from research analysts. Royal Bank of Canada reiterated an “outperform” rating and issued a $40 price objective back in March while StockNews.com assigned a “hold” rating on the stock on March 16th. Keefe Bruyette & Woods then downgraded Brookfield Asset Management to “underperform” on April 18th. Most recently, JPMorgan Chase & Co. has boosted their target price on Brookfield Asset Management from $35 to $39 and given the company an “overweight” rating.
Presently trading at $33.55 on the NYSE BAM with a trading volume of 725,043 shares, Brookfield Asset Management Ltd has amassed a market capitalization worth $13.84 billion and maintains an average price-to-earnings ratio of 20.97.
Brookfield’s success is dependent upon offering attractive alternatives to traditional investments while maintaining high-quality standards for clients that are seeking quality products within their investment portfolios.
The current economic climate presents investors with numerous challenges that require innovative approaches while placing emphasis on generating returns that are both socially responsible and meet long-term investor goals.
Brookfield provides clients with access to alternative investments through private funds while leveraging its vast network of contacts and expertise to create diversified product offerings that are in line with investors’ objectives. Despite the recent sell-off by Marathon Asset Management Ltd, Brookfield’s future remains bright, with its innovative approach to investing and commitment to client satisfaction making it a highly attractive option within the market.
Institutional Investors and Research Analysts React to Brookfield Asset Management’s Q1 Earnings Report and Dividend Increase
Brookfield Asset Management has been making headlines recently, with several institutional investors and hedge funds modifying their holdings in the financial services provider. In the third quarter, Fortis Advisors LLC saw an increase in its stake of Brookfield Asset Management by 2.8%, now owning over 8,000 shares valued at $337,000. Crossmark Global Holdings Inc., Glenmede Trust Co. NA, Park Avenue Securities LLC, and Stephens Inc. AR also saw increases in their holdings of the company’s stock.
Director Multi-Strategy Mast Brookfield recently sold 24,744 shares of the stock at an average price of $11.96 per share, for a total transaction value of $295,938.24. Following this sale, the director still holds over 21 million shares worth over $252 million.
Research analysts have weighed in on the company as well. Royal Bank of Canada reiterated its “outperform” rating with a $40 price target for Brookfield Asset Management shares. StockNews.com gave a “hold” rating on the stock while Keefe, Bruyette & Woods cut its rating to “underperform.” JPMorgan Chase & Co., however, boosted its target price from $35 to $39 with an “overweight” rating.
Brookfield Asset Management last reported quarterly earnings data on February 8th – reporting an earnings per share of $0.31 for Q4 2022 and beating analysts’ consensus estimates by $0.01 per share with revenue of around $958 million for that period – significantly lower than analysts had estimated ($21.81 billion).
Furthermore, The company distributed its quarterly dividend on Friday March 31st paying out at a rate noted as higher than previously forecasted: shareholders received $0.32 per share compared to previous offers of just $0.14 per share annualized basis; giving them a dividend yield of 3.82%. These announcements have all contributed to the overall consensus rating of “Moderate Buy” with a target price of $43.57 per share, reaffirming strong investor confidence in the financial services provider.