Live Oak Private Wealth LLC Sells 275 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Live Oak Private Wealth LLC lowered its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 44,266 shares of the financial services provider’s stock after selling 275 shares during the period. Live Oak Private Wealth LLC’s holdings in Brookfield Asset Management were worth $2,399,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hara Capital LLC acquired a new stake in Brookfield Asset Management during the third quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC acquired a new stake in Brookfield Asset Management in the 3rd quarter valued at $27,000. Versant Capital Management Inc grew its position in Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 771 shares during the period. Continuum Advisory LLC raised its stake in Brookfield Asset Management by 42.2% during the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 329 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Brookfield Asset Management by 35.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 319 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.2 %

NYSE BAM opened at $57.85 on Friday. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The stock has a 50-day simple moving average of $56.45 and a 200 day simple moving average of $50.37. The company has a market capitalization of $25.64 billion, a PE ratio of 51.20, a P/E/G ratio of 2.26 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the business posted $0.35 EPS. As a group, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. CIBC upped their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods reduced their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. Scotiabank increased their price target on Brookfield Asset Management from $59.50 to $63.00 and gave the stock a “sector outperform” rating in a research report on Monday. Finally, The Goldman Sachs Group raised their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.42.

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.