Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Lincoln Capital LLC

Lincoln Capital LLC trimmed its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,941 shares of the financial services provider’s stock after selling 899 shares during the quarter. Lincoln Capital LLC’s holdings in Brookfield Asset Management were worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Diversify Wealth Management LLC lifted its holdings in shares of Brookfield Asset Management by 14.8% during the fourth quarter. Diversify Wealth Management LLC now owns 17,193 shares of the financial services provider’s stock worth $895,000 after purchasing an additional 2,222 shares during the period. My Legacy Advisors LLC raised its position in Brookfield Asset Management by 15.1% during the 4th quarter. My Legacy Advisors LLC now owns 5,387 shares of the financial services provider’s stock worth $292,000 after buying an additional 707 shares during the last quarter. Smith Salley Wealth Management lifted its stake in shares of Brookfield Asset Management by 0.9% in the 4th quarter. Smith Salley Wealth Management now owns 111,718 shares of the financial services provider’s stock worth $6,054,000 after acquiring an additional 954 shares during the period. Avanza Fonder AB acquired a new position in shares of Brookfield Asset Management during the fourth quarter worth about $997,000. Finally, Procyon Advisors LLC raised its holdings in Brookfield Asset Management by 2.7% during the fourth quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 249 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BAM has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. TD Securities lifted their price target on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. BMO Capital Markets increased their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company cut their price target on shares of Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $54.38.

Brookfield Asset Management Price Performance

Shares of BAM opened at $55.56 on Monday. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $59.58. The stock has a market cap of $24.62 billion, a price-to-earnings ratio of 49.17, a price-to-earnings-growth ratio of 1.75 and a beta of 1.45. The firm has a 50 day simple moving average of $55.82 and a 200-day simple moving average of $48.67.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, equities analysts expect that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.74%. Brookfield Asset Management’s dividend payout ratio (DPR) is 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.