Texas Yale Capital Corp., a prominent institutional investor, has trimmed its holdings of Brookfield Asset Management Ltd. by 74.8% in the 4th quarter of this year, according to their recent disclosure to the Securities & Exchange Commission (SEC). The company reportedly sold over 95,300 shares during this quarter, thereby decreasing its overall ownership to only around 32,083 shares worth $920,000.
In addition to this news, recent reports indicate that Director Multi-Strategy Mast Brookfield has also sold a substantial amount of the company’s stock in March this year. He sold over 24,744 shares at an average price of $11.96 per share for a total transaction value of nearly $295,938.24. Following this sale, Mast Brookfield now owns about 21 million shares in the company valued at roughly $252 million.
It is interesting to note that Texas Yale Capital Corp.’s decision to sell its assets comes just before Brookfield Asset Management announced a quarterly dividend payment scheduled for June 30th. Shareholders who own stock as of May 31st will receive a payout of $0.32 per share on an annualized basis with an impressive dividend yield of approximately 4.09%.
Brookfield Asset Management is known for being one of Canada’s leading global alternative asset management companies that provides investments across real estate, infrastructure, renewable power and private equity strategies around the world with over $600 billion worth assets under management.
In conclusion, investors are eagerly awaiting updates from Brookfield about future projects and business strategies as well as their quarterly earnings report set for release later in July 2023.
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Brookfield Asset Management Sees Changes in Holdings as Institutional Investors Modify Portfolios
Brookfield Asset Management, a diversified global asset manager, has recently seen changes in its holdings as various hedge funds and institutional investors have modified their portfolios. American Century Companies Inc. saw a 0.7% boost in holdings of Brookfield Asset Management during the first quarter after purchasing an additional 268 shares worth $2,161,000. Dimensional Fund Advisors LP also experienced an uptick of 3.9% in the same quarter, with an increase of 20,309 shares valued at $30,404,000.
Canada Pension Plan Investment Board purchased a new position in Brookfield Asset Management valued at approximately $22,369,000 while Sequoia Financial Advisors LLC acquired another stake worth roughly $340,000 during Q1 as well. Meanwhile Vanguard Group Inc. bought over one million more shares to add to its already substantial holdings that are now worth $2.4 billion.
Brookfield Asset Management was traded up by $0.52 on Friday reaching a price of $31.32 as it recorded 142,438 trades with investors; compared to an average volume of 1,632,170 shares for the firm’s stock being traded daily.
Several research firms have commented on Brookfield Asset Management and its performance as it continues to grow and evolve globally. JP Morgan Chase & Co has upped its price objective for BAM from $35 to $39 giving the stock an “overweight” rating; Keefe Bruyette & Woods cut Brookfield Asset Management’s rating down to “underperform”; Deutsche Bank AG started coverage on Brookfield Asset Management but gave it a hold rating noting that their report shows an average rating of moderate buy when referencing Columbia and Wall Street research analysts.
As we look ahead into the future for Brookfield Asset Management’s growth prospects and sustained success in seeking sustainable investments alongside sustainable operations – one can draw upon a report recently circulated which showed that large private asset managers such as Brookfield Asset Management have been flooding money into renewable energy projects.
This data from Bloomberg suggests that with the continual inflow of equity investments and positions being acquired by institutional investors such as Vanguard Group Inc., Canada Pension Plan Investment Board, amongst others reiterated the strength of natural resources market alongside a positive outlook for Brookfield Asset Management to expand into emerging markets.
