New South Capital Management Inc. Sells 3,947 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

New South Capital Management Inc. cut its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,629 shares of the financial services provider’s stock after selling 3,947 shares during the period. New South Capital Management Inc.’s holdings in Brookfield Asset Management were worth $4,694,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC grew its position in Brookfield Asset Management by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after acquiring an additional 168,170 shares during the last quarter. Avior Wealth Management LLC grew its position in Brookfield Asset Management by 2,857.1% during the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after acquiring an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Brookfield Asset Management by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock worth $39,516,000 after acquiring an additional 45,670 shares during the last quarter. LGT Capital Partners LTD. grew its position in Brookfield Asset Management by 11.5% during the 3rd quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock worth $25,273,000 after acquiring an additional 55,000 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in Brookfield Asset Management by 10.3% in the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after buying an additional 370,383 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Performance

BAM opened at $54.00 on Thursday. The firm’s fifty day moving average is $56.72 and its two-hundred day moving average is $52.66. The firm has a market cap of $23.93 billion, a PE ratio of 40.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.46. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Equities analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.24%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.58%.

Wall Street Analyst Weigh In

BAM has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, November 11th. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. CIBC raised their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Asset Management presently has a consensus rating of “Hold” and a consensus price target of $56.71.

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.