Motley Fool Wealth Management LLC Sells 27,604 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Motley Fool Wealth Management LLC trimmed its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 8.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 297,202 shares of the financial services provider’s stock after selling 27,604 shares during the quarter. Motley Fool Wealth Management LLC owned about 0.07% of Brookfield Asset Management worth $16,017,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in BAM. Principal Financial Group Inc. increased its position in Brookfield Asset Management by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after acquiring an additional 24,409 shares in the last quarter. Pathstone Holdings LLC grew its stake in shares of Brookfield Asset Management by 1.0% during the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after purchasing an additional 278 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Brookfield Asset Management by 1.7% in the third quarter. PNC Financial Services Group Inc. now owns 60,805 shares of the financial services provider’s stock valued at $2,875,000 after purchasing an additional 1,007 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Brookfield Asset Management by 5.8% in 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 purchasing an additional 45,670 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in Brookfield Asset Management by 25.6% during the 3rd quarter. Cerity Partners LLC now owns 25,996 shares of the financial services provider’s stock worth $1,229,000 after buying an additional 5,298 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BAM has been the subject of a number of research reports. Keefe, Bruyette & Woods lowered their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. UBS Group initiated coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating for the company. HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, March 20th. Finally, Scotiabank reduced their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.38.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock opened at $51.74 on Wednesday. The company has a market capitalization of $22.93 billion, a P/E ratio of 39.20, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50. The business has a 50-day moving average of $55.15 and a two-hundred day moving average of $53.51. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. On average, equities analysts anticipate 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 given a $0.4375 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a yield of 3.38%. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s payout ratio is currently 132.58%.

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.