Check Capital Management Inc. CA Sells 2,152 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Check Capital Management Inc. CA cut its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.8% during the 4th quarter, Holdings Channel reports. The firm owned 53,970 shares of the financial services provider’s stock after selling 2,152 shares during the period. Brookfield Asset Management makes up 0.1% of Check Capital Management Inc. CA’s holdings, making the stock its 17th largest holding. Check Capital Management Inc. CA’s holdings in Brookfield Asset Management were worth $2,168,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BAM. Moneta Group Investment Advisors LLC increased its stake in Brookfield Asset Management by 30,651.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 31,097,454 shares of the financial services provider’s stock valued at $891,564,000 after acquiring an additional 30,996,329 shares during the last quarter. Norges Bank bought a new position in Brookfield Asset Management in the fourth quarter valued at approximately $152,180,000. Goldman Sachs Group Inc. increased its stake in Brookfield Asset Management by 166.2% in the first quarter. Goldman Sachs Group Inc. now owns 7,051,145 shares of the financial services provider’s stock valued at $398,883,000 after acquiring an additional 4,402,115 shares during the last quarter. Bank of America Corp DE increased its stake in Brookfield Asset Management by 160.5% in the first quarter. Bank of America Corp DE now owns 3,268,982 shares of the financial services provider’s stock valued at $106,961,000 after acquiring an additional 2,013,890 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Brookfield Asset Management by 44.6% during the fourth quarter. Mackenzie Financial Corp now owns 6,341,977 shares of the financial services provider’s stock worth $254,842,000 after buying an additional 1,955,842 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Trading Down 0.3 %

BAM stock traded down $0.10 during midday trading on Friday, hitting $38.32. The stock had a trading volume of 1,847,641 shares, compared to its average volume of 1,168,113. The firm has a market cap of $15.83 billion, a P/E ratio of 33.84, a price-to-earnings-growth ratio of 1.50 and a beta of 1.68. Brookfield Asset Management Ltd. has a 1-year low of $28.35 and a 1-year high of $43.00. The business has a fifty day moving average price of $41.03 and a two-hundred day moving average price of $37.47.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. The firm had revenue of $1.13 billion for the quarter. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. During the same quarter in the prior year, the company posted $0.31 EPS. On average, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.49 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.32. Brookfield Asset Management’s dividend payout ratio is 134.51%.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. CIBC boosted their target price on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. HSBC lowered shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Scotiabank lifted their price target on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 8th. Finally, TD Securities cut their price target on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.20.

Brookfield Asset Management Company 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.