Motley Fool Wealth Management LLC Lowers Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Motley Fool Wealth Management LLC cut its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,050 shares of the financial services provider’s stock after selling 981 shares during the period. Motley Fool Wealth Management LLC’s holdings in Brookfield Asset Management were worth $4,086,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in Brookfield Asset Management by 48.5% during the third quarter. CWM LLC now owns 1,959 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 640 shares in the last quarter. SG Americas Securities LLC purchased a new position in Brookfield Asset Management during the third quarter valued at $238,000. Private Trust Co. NA lifted its holdings in Brookfield Asset Management by 180.4% during the third quarter. Private Trust Co. NA now owns 1,057 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 680 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Brookfield Asset Management by 505.6% during the third quarter. Asset Management One Co. Ltd. now owns 27,614 shares of the financial services provider’s stock valued at $921,000 after purchasing an additional 23,054 shares in the last quarter. Finally, SOL Capital Management CO lifted its holdings in Brookfield Asset Management by 3.9% during the third quarter. SOL Capital Management CO now owns 17,705 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 665 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Up 1.9 %

Brookfield Asset Management stock traded up $0.73 during midday trading on Friday, hitting $39.70. 846,582 shares of the stock were exchanged, compared to its average volume of 1,430,485. Brookfield Asset Management Ltd. has a fifty-two week low of $28.35 and a fifty-two week high of $43.00. The stock has a market capitalization of $16.40 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 1.50 and a beta of 1.68. The stock’s 50-day simple moving average is $40.88 and its 200 day simple moving average is $37.79.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. The firm had revenue of $1.13 billion during 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 previous year, the business posted $0.31 earnings per share. Equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.49 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently announced 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 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.32. Brookfield Asset Management’s dividend payout ratio (DPR) is 134.51%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. TD Securities decreased their price objective 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. HSBC cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. CIBC increased their target price on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Royal Bank of Canada increased their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Finally, BMO Capital Markets increased their target price on shares of 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.