Massachusetts Financial Services Co. MA Sells 384,564 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Massachusetts Financial Services Co. MA lessened its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,506,606 shares of the financial services provider’s stock after selling 384,564 shares during the period. Massachusetts Financial Services Co. MA owned about 1.24% of Brookfield Asset Management worth $298,403,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Brookfield Asset Management by 31.3% in the fourth quarter. Geode Capital Management LLC now owns 2,116,337 shares of the financial services provider’s stock valued at $117,171,000 after purchasing an additional 504,478 shares in the last quarter. Franklin Resources Inc. raised its position in Brookfield Asset Management by 15.7% in the 4th quarter. Franklin Resources Inc. now owns 146,731 shares of the financial services provider’s stock valued at $7,948,000 after buying an additional 19,860 shares during the last quarter. Summit Financial LLC purchased a new position in Brookfield Asset Management during the 4th quarter worth $366,000. O Shaughnessy Asset Management LLC grew its stake in shares of Brookfield Asset Management by 64.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 171,206 shares of the financial services provider’s stock worth $9,274,000 after acquiring an additional 67,073 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of Brookfield Asset Management in the fourth quarter valued at about $152,000. Institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BAM shares. Keefe, Bruyette & Woods reduced their price objective 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. Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. TD Securities lifted their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Scotiabank reduced their price objective on 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. Finally, BMO Capital Markets lifted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

Brookfield Asset Management Stock Up 2.6 %

NYSE BAM opened at $50.77 on Thursday. The company’s 50 day moving average is $54.43 and its 200-day moving average is $53.70. The firm has a market cap of $83.13 billion, a P/E ratio of 38.46, a price-to-earnings-growth ratio of 1.92 and a beta of 1.62. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61.

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

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is presently 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.