Brookfield Asset Management Ltd. (NYSE:BAM) Position Decreased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd reduced its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 20.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,800 shares of the financial services provider’s stock after selling 1,700 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Brookfield Asset Management were worth $368,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Truvestments Capital LLC increased its holdings in shares of Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after buying an additional 419 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Brookfield Asset Management during the fourth quarter worth $32,000. Versant Capital Management Inc raised its position in shares of Brookfield Asset Management by 1,606.3% during the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 771 shares during the period. Continuum Advisory LLC lifted its holdings in shares of 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 valued at $52,000 after purchasing an additional 329 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Brookfield Asset Management by 35.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 319 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Scotiabank reduced their price objective on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Keefe, Bruyette & Woods cut their price target 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. CIBC raised their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Finally, HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $48.44 on Tuesday. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The stock’s 50-day moving average is $54.70 and its two-hundred day moving average is $53.68. The firm has a market cap of $79.31 billion, a P/E ratio of 36.70, a PEG ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 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%. As a group, research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were issued a dividend of $0.4375 per share. The ex-dividend date was Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.61%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.58%.

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.