Advisors Capital Management LLC Reduces Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Advisors Capital Management LLC decreased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 8.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,285 shares of the financial services provider’s stock after selling 583 shares during the period. Advisors Capital Management LLC’s holdings in Brookfield Asset Management were worth $341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BAM. Principal Financial Group Inc. boosted its position in shares of 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 acquiring an additional 24,409 shares during the period. MML Investors Services LLC boosted its holdings in Brookfield Asset Management by 7.3% in the 3rd quarter. MML Investors Services LLC now owns 17,511 shares of the financial services provider’s stock valued at $828,000 after purchasing an additional 1,193 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Brookfield Asset Management during the 3rd quarter valued at $1,634,000. Geode Capital Management LLC increased its holdings in shares of Brookfield Asset Management by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after purchasing an additional 168,170 shares during the period. Finally, Morse Asset Management Inc purchased a new stake in shares of Brookfield Asset Management in the third quarter worth $176,000. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $48.72 on Wednesday. The stock has a 50 day moving average price of $51.52 and a 200-day moving average price of $53.60. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The stock has a market cap of $79.78 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63.

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 (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share 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 given a dividend of $0.4375 per share. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.59%. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Bank of America upgraded shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Thursday, April 10th. Wells Fargo & Company decreased their price target on shares of Brookfield Asset Management from $50.00 to $48.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Scotiabank reduced their target price on Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Moderate Buy” and a consensus target price of $57.15.

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.