Lipe & Dalton Trims Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Lipe & Dalton decreased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,778 shares of the financial services provider’s stock after selling 366 shares during the period. Brookfield Asset Management accounts for 1.4% of Lipe & Dalton’s investment portfolio, making the stock its 24th biggest position. Lipe & Dalton’s holdings in Brookfield Asset Management were worth $2,697,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in BAM. Alberta Investment Management Corp increased its position in Brookfield Asset Management by 10.6% during the 4th quarter. Alberta Investment Management Corp now owns 1,259,943 shares of the financial services provider’s stock worth $68,297,000 after purchasing an additional 121,067 shares in the last quarter. Global Retirement Partners LLC grew its stake in Brookfield Asset Management by 170.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,406 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 887 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Brookfield Asset Management by 2.3% during the 4th quarter. Sanctuary Advisors LLC now owns 20,617 shares of the financial services provider’s stock worth $1,117,000 after purchasing an additional 462 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Brookfield Asset Management by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock worth $483,963,000 after purchasing an additional 62,908 shares during the last quarter. Finally, Blue Zone Wealth Advisors LLC grew its position in shares of Brookfield Asset Management by 1.4% in the fourth quarter. Blue Zone Wealth Advisors LLC now owns 152,107 shares of the financial services provider’s stock valued at $8,243,000 after purchasing an additional 2,038 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BAM has been the topic of several recent analyst reports. 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. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. UBS Group assumed coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating for the company. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $56.71.

Brookfield Asset Management Trading Down 3.1 %

BAM stock opened at $58.45 on Friday. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The stock’s 50 day simple moving average is $56.67 and its 200 day simple moving average is $51.69. The firm has a market cap of $25.90 billion, a P/E ratio of 44.28, a P/E/G ratio of 2.20 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, research analysts forecast that Brookfield Asset Management Ltd. will post 1.71 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 2.99%. Brookfield Asset Management’s dividend payout ratio is 115.15%.

Brookfield Asset Management 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.