Brookfield Asset Management Ltd. (NYSE:BAM) Shares Acquired by Diversify Wealth Management LLC

Diversify Wealth Management LLC increased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 14.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 17,193 shares of the financial services provider’s stock after buying an additional 2,222 shares during the period. Diversify Wealth Management LLC’s holdings in Brookfield Asset Management were worth $895,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. My Legacy Advisors LLC raised its position in shares of 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 purchasing an additional 707 shares during the period. Smith Salley Wealth Management grew its stake in Brookfield Asset Management by 0.9% during the 4th quarter. Smith Salley Wealth Management now owns 111,718 shares of the financial services provider’s stock worth $6,054,000 after buying an additional 954 shares during the last quarter. Avanza Fonder AB acquired a new stake in Brookfield Asset Management in the fourth quarter worth $997,000. Procyon Advisors LLC lifted its stake in Brookfield Asset Management by 2.7% in the fourth quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock valued at $505,000 after buying an additional 249 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in shares of Brookfield Asset Management by 166.9% during the fourth quarter. Ritholtz Wealth Management now owns 13,079 shares of the financial services provider’s stock valued at $709,000 after acquiring an additional 8,179 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.9 %

Shares of BAM stock opened at $55.56 on Tuesday. The company has a market capitalization of $24.62 billion, a price-to-earnings ratio of 49.17, a P/E/G ratio of 1.75 and a beta of 1.45. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $59.58. The stock’s fifty day simple moving average is $55.82 and its 200-day simple moving average is $48.74.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $1.12 billion for 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 quarter in the previous year, the business posted $0.35 EPS. On average, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given 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 payout ratio is 134.51%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BAM shares. The Goldman Sachs Group increased their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company decreased their price objective on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Deutsche Bank Aktiengesellschaft raised their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, UBS Group assumed coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating for the company. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Brookfield Asset Management currently has a consensus rating of “Hold” and an average price target of $54.38.

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.