Mitsubishi UFJ Trust & Banking Corp Trims Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 51.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,100 shares of the financial services provider’s stock after selling 9,700 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Brookfield Asset Management were worth $493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new stake in shares of Brookfield Asset Management during the fourth quarter worth about $204,169,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Brookfield Asset Management by 103.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock worth $216,507,000 after buying an additional 2,031,995 shares during the period. Madison Investment Advisors LLC acquired a new stake in shares of Brookfield Asset Management in the 4th quarter valued at $94,122,000. TD Asset Management Inc. increased its holdings in Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock valued at $903,323,000 after buying an additional 1,359,126 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in Brookfield Asset Management by 5,331.6% in the fourth quarter. Proficio Capital Partners LLC now owns 351,205 shares of the financial services provider’s stock valued at $19,032,000 after buying an additional 344,739 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. CIBC boosted 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 report on Thursday, January 30th. UBS Group started coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating for the company. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. StockNews.com raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, March 20th. Finally, Keefe, Bruyette & Woods decreased their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $56.38.

Brookfield Asset Management Stock Performance

BAM opened at $49.57 on Wednesday. The business’s fifty day moving average is $54.55 and its two-hundred day moving average is $53.72. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The company has a market cap of $81.16 billion, a price-to-earnings ratio of 37.55, a PEG ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping 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, analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company 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 is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.53%. Brookfield Asset Management’s payout ratio is 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.