Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Hendershot Investments Inc.

Hendershot Investments Inc. lowered its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,158 shares of the financial services provider’s stock after selling 580 shares during the quarter. Hendershot Investments Inc.’s holdings in Brookfield Asset Management were worth $388,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Bank of Montreal Can lifted its stake in shares of Brookfield Asset Management by 0.5% in the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock valued at $435,729,000 after purchasing an additional 43,134 shares during the period. Principal Financial Group Inc. increased its holdings in Brookfield Asset Management by 0.3% in the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after buying an additional 24,409 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Brookfield Asset Management by 10.3% during 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 acquiring an additional 370,383 shares during the period. Douglass Winthrop Advisors LLC boosted its stake in shares of Brookfield Asset Management by 3.9% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock worth $126,287,000 after acquiring an additional 99,020 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Brookfield Asset Management by 66.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after acquiring an additional 784,250 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BAM has been the subject of several research reports. TD Securities lifted their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group lifted their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. UBS Group started coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods cut their target price on shares of 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. Finally, Wells Fargo & Company lowered their price target on shares of Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.42.

Brookfield Asset Management Stock Performance

BAM stock opened at $57.91 on Friday. The company has a 50 day moving average price of $56.48 and a two-hundred day moving average price of $50.53. The stock has a market capitalization of $25.66 billion, a P/E ratio of 51.25, a PEG ratio of 2.26 and a beta of 1.46. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61.

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.