Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Private Management Group Inc.

Private Management Group Inc. reduced its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 32.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,186 shares of the financial services provider’s stock after selling 53,237 shares during the period. Private Management Group Inc.’s holdings in Brookfield Asset Management were worth $4,547,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Blue Fin Capital Inc. lifted its position in Brookfield Asset Management by 2.0% in the 3rd quarter. Blue Fin Capital Inc. now owns 22,173 shares of the financial services provider’s stock valued at $739,000 after purchasing an additional 425 shares during the last quarter. Procyon Advisors LLC increased its stake in Brookfield Asset Management by 5.9% during the 4th quarter. Procyon Advisors LLC now owns 8,291 shares of the financial services provider’s stock valued at $333,000 after buying an additional 461 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in Brookfield Asset Management by 39.6% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock valued at $59,000 after buying an additional 500 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Brookfield Asset Management by 3.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 17,372 shares of the financial services provider’s stock valued at $579,000 after buying an additional 545 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in Brookfield Asset Management by 1.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 36,293 shares of the financial services provider’s stock valued at $1,185,000 after buying an additional 617 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. TD Securities lowered 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 research note on Tuesday, January 9th. HSBC downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. BMO Capital Markets lifted their target price on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. CIBC raised their price target on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, Scotiabank lifted their target price on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management currently has an average rating of “Moderate Buy” and a consensus price target of $42.20.

Brookfield Asset Management Price Performance

BAM stock traded down $0.41 on Wednesday, reaching $39.18. 931,340 shares of the company were exchanged, compared to its average volume of 1,170,018. Brookfield Asset Management Ltd. has a 12 month low of $28.35 and a 12 month high of $43.00. The stock’s fifty day moving average price is $40.97 and its 200 day moving average price is $37.72. The firm has a market capitalization of $16.19 billion, a PE ratio of 34.58, a PEG ratio of 1.50 and a beta of 1.68.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. The business had revenue of $1.13 billion for the quarter. During the same period last year, the firm posted $0.31 EPS. As a group, research analysts expect 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. Investors of record on Thursday, February 29th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.52 dividend on an annualized basis and a yield of 3.88%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.32. Brookfield Asset Management’s payout ratio is 134.51%.

About Brookfield Asset Management

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.