April 29, 2023 – &TD Asset Management Inc has recently reported a substantial reduction in its holdings in Brookfield Asset Management Ltd. The financial services provider’s shares have declined by 76.4%, resulting in the fund owning only 7,008,054 shares of Brookfield Asset Management at the end of Q4. Sources suggest that the cause of this massive sell-off is attributed to fluctuating market conditions and an uncertain economic climate.
According to reports, TD Asset Management Inc cut its holdings by selling approximately 22,696,301 shares during the said period. These sales make up about 1.70% of Brookfield Asset Management’s total value and brought its worth down to $200,526,000. While it may seem like bad news for Brookfield at this time; such events aren’t uncommon for companies that experience changes in market conditions.
Along with this revelation, director Multi-Strategy Mast Brookfield has reportedly sold some of his shares as well. He sold approximately 24,744 shares on Tuesday, March 28th, according to filing disclosures with the Securities & Exchange Commission (SEC). The transaction was made at an average price of $11.96 per share with a total value of $295,938.24; resulting in Mast Brookfield now having direct ownership over 21,104,923 shares valued at around $252,414,879.08.
Considering insider trading accounts for about 11% ownership of the company’s stocks; there’s no doubt that these shedding-offs had ripple effects on Brookfield’s current standing in the stock market–sending investors fidgeting nervously regarding what lies ahead.
Brookfield Asset Management Ltd., which trades under NYSE:BAM has seen better days previously; however today trading at a price point of $33.42 per share amidst much lower trading volume than before- after having previously traded between as low as $26.76 and as high as $36.50 per share in the past year alone. The firm’s current 50-day moving average price is around $32.57, while its 200-day moving average price stands at about$35.12.
Despite these recent changes in Brookfield Asset Management Ltd.’s market statistics, industry insiders remain hopeful that the company can recover from this slump in the near future. Until then, all eyes will be on the company to see how it maneuvers through these trying economic times and rise once more to claim their spot among the financial services providers’ top ranks.
Brookfield Asset Management Sees Changes in Position from Hedge Funds and Institutional Investors
Brookfield Asset Management, a leading global asset management company specializing in real estate, infrastructure, renewable power and private equity, has recently seen changes to its position from several hedge funds and institutional investors. Among them are The Vanguard Group, which raised its holdings in shares of Brookfield by 3.2%, Goldman Sachs Group Inc., who raised it by 166.2% in the first quarter, and Invesco Ltd., who raised it by 1.1% in the same period.
The whole picture of analysts reports is also available; JPMorgan Chase & Co upped their price target on shares of Brookfield Asset Management from $35.00 to $39.00; Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price target on shares of Brookfield while StockNews.com initiated coverage on shares with a hold rating. Keefe, Bruyette & Woods lowered shares of Brookfield Asset Management to an “underperform” rating.
On March 28th Multi-Strategy Mast Brookfield, Director at the company sold 24,744 shares of the company’s stock at an average price of $11.96 per share for a total value of $295,938.24. Following this transaction Director Mast Brookfield holds 21,104,923 shares valued at $252,414,879.08.
Brookfield Asset Management reported earnings results last on Wednesday – February 8th: the financial services provider exceeded consensus expectations with earnings per share (EPS) reaching $0.31 compared to expected $0.30 while revenues hit just under one billion dollars ($958.10 million) as opposed to the predicted $21.81 billion.
Finally worth mentioning is that the company declared increased quarterly dividends: Investors on record/holding stocks as of Tuesday – February 28th were paid with an increased dividend rate of USD 0.32 per share, which is a positive sign that the company continues to strengthen its financial standing.
