Montrusco Bolton Investments Inc. Sells 430,718 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Montrusco Bolton Investments Inc. trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 25.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,257,847 shares of the financial services provider’s stock after selling 430,718 shares during the quarter. Montrusco Bolton Investments Inc. owned approximately 0.30% of Brookfield Asset Management worth $50,768,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Bfsg LLC bought a new stake in shares of Brookfield Asset Management in the 4th quarter worth approximately $51,000. Signaturefd LLC boosted its position in shares of Brookfield Asset Management by 106.4% in the 3rd quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 764 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Brookfield Asset Management by 39.6% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 500 shares in the last quarter. Anchor Investment Management LLC bought a new stake in shares of Brookfield Asset Management in the 4th quarter worth approximately $119,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Brookfield Asset Management in the 4th quarter worth approximately $202,000. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM traded up $0.44 during midday trading on Friday, hitting $40.41. The company had a trading volume of 2,657,180 shares, compared to its average volume of 2,716,416. The company has a market cap of $17.86 billion, a price-to-earnings ratio of 37.42, a PEG ratio of 1.81 and a beta of 1.71. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $43.00. The company has a fifty day moving average of $40.34 and a two-hundred day moving average of $38.65.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a $0.38 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.52 annualized dividend and a dividend yield of 3.76%. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. began coverage on Brookfield Asset Management in a research report on Wednesday. They issued a “neutral” rating and a $41.00 price target on the stock. CIBC upped 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. HSBC cut Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Scotiabank lowered their price objective on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a research report on Thursday, May 9th. Finally, BMO Capital Markets upped 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Brookfield Asset Management has an average rating of “Moderate Buy” and a consensus target price of $42.14.

Brookfield Asset Management 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.