DekaBank Deutsche Girozentrale Reduces Holdings in Brookfield Asset Management

DekaBank Deutsche Girozentrale has reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) by 11.8% during the third quarter of the year. This adjustment is detailed in their most recent Form 13F filing with the Securities and Exchange Commission. Following this sale, DekaBank now holds 79,236 shares of the financial services provider, after offloading 10,572 shares over the period. At the conclusion of this reporting period, these holdings were valued at approximately $3,606,000.

Several other hedge funds have also made changes to their positions in Brookfield Asset Management. For instance, Massmutual Trust Co. FSB ADV increased its stake by an impressive 98.2% in the previous quarter, bringing its total to 777 shares valued at $30,000 after acquiring an additional 385 shares. Similarly, Continuum Advisory LLC enhanced its position by 57.6%, now owning 780 shares worth $30,000 after acquiring 285 additional shares.

Whittier Trust Co. of Nevada Inc. made a significant move as well, increasing its position by 574.2% during the first quarter, now holding 890 shares valued at $37,000 after buying an additional 758 shares. Another notable increase came from Richardson Financial Services Inc., which boosted its stake by 368.3%, owning 960 shares valued at $37,000 after an acquisition of 755 shares during the same period. Furthermore, WASHINGTON TRUST Co. grew its stake by 151.3%, owning 1,063 shares valued at $40,000 after purchasing an additional 640 shares.

Currently, about 68.41% of Brookfield Asset Management's stock is held by institutional investors.

Analyst Ratings Changes

Several analysts have shared insights on Brookfield Asset Management stock. Bank of America recently increased its price target from $41.00 to $45.00, categorizing the stock as “neutral” in a research report released on September 12. Likewise, JPMorgan Chase & Co. adjusted its price target downward from $42.00 to $41.00, also rating the stock as “neutral” in an August report.

Deutsche Bank Aktiengesellschaft raised its price target from $43.00 to $44.00, assigning the stock a “buy” rating. CIBC similarly increased its target from $47.00 to $49.00, rating it as an “outperformer.” Finally, Wells Fargo & Company adjusted their pricing to reflect a range of $42.00 to $48.00, while also issuing an “underweight” rating.

In terms of market opinions, two analysts have given the stock a “sell” rating, five analysts have a “hold” rating, and five have rated it as a “buy.” As per MarketBeat.com, Brookfield Asset Management holds an average rating of “Hold” with an average price target set at $48.32.

Brookfield Asset Management Stock Performance

As of Friday, shares of BAM opened at $53.07. The company boasts a market capitalization of $23.55 billion, with a price-to-earnings ratio of 49.13 and a price-to-earnings-growth ratio of 2.26, along with a beta value of 1.56. Throughout the last year, Brookfield Asset Management's stock reached a low of $28.35 and a high of $54.20. The company's 50-day and 200-day simple moving averages are recorded at $46.69 and $42.06, respectively.

Most recently, on August 9, Brookfield Asset Management announced its quarterly earnings results. The company reported earnings per share of $0.34, which was slightly below the consensus estimate of $0.35. It generated revenue of $916.00 million for the quarter, falling short of analyst expectations of $1.16 billion. The company recorded a return on equity of 92.37% and a net margin of 51.29%. Comparing to the previous year, the earnings per share recorded was $0.28. Analysts predict that Brookfield Asset Management Ltd. will achieve earnings per share of $1.43 for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on September 27. Shareholders who recorded on August 30 received a dividend of $0.38, amounting to an annualized total of $1.52 and presenting a yield of 2.86%. The ex-dividend date was set on August 30, and currently, the dividend payout ratio is estimated at 140.74%.

Brookfield Asset Management Profile

Brookfield Asset Management Ltd. specializes in alternative asset management, particularly in the real estate sector. Its renewable energy business covers various sectors including hydroelectric, wind, solar, and other sustainable solutions. The company’s infrastructure segment involves utilities, transportation, midstream services, and data infrastructure.

DekaBank, Brookfield, Investment