Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC cut its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 50.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 57,516 shares of the financial services provider’s stock after selling 59,004 shares during the period. Motley Fool Asset Management LLC’s holdings in Brookfield Asset Management were worth $2,310,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jackson Hole Capital Partners LLC increased its position in Brookfield Asset Management by 3.1% during the fourth quarter. Jackson Hole Capital Partners LLC now owns 9,770 shares of the financial services provider’s stock worth $392,000 after buying an additional 291 shares in the last quarter. Bfsg LLC purchased a new position in Brookfield Asset Management during the fourth quarter worth $51,000. Marks Group Wealth Management Inc increased its position in Brookfield Asset Management by 2.8% during the fourth quarter. Marks Group Wealth Management Inc now owns 156,943 shares of the financial services provider’s stock worth $6,304,000 after buying an additional 4,221 shares in the last quarter. Powell Investment Advisors LLC purchased a new position in Brookfield Asset Management during the fourth quarter worth $239,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Brookfield Asset Management by 3.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,920 shares of the financial services provider’s stock worth $2,580,000 after buying an additional 1,842 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on BAM. TD Securities dropped their price target on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a research report on Tuesday, January 9th. HSBC downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Scotiabank lifted their price objective on Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 8th. CIBC lifted their price objective on Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, BMO Capital Markets lifted their price objective on Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.20.

Brookfield Asset Management Price Performance

BAM stock traded up $0.73 during trading on Friday, reaching $39.70. 837,993 shares of the stock traded hands, compared to its average volume of 1,169,569. The business’s 50 day moving average price is $40.88 and its 200-day moving average price is $37.79. Brookfield Asset Management Ltd. has a 52-week low of $28.35 and a 52-week high of $43.00. The firm has a market capitalization of $16.40 billion, a PE ratio of 35.13, a P/E/G ratio of 1.51 and a beta of 1.68.

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

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.83%. 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 payout ratio is currently 134.51%.

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.