Pacifica Partners Inc. Sells 208 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Pacifica Partners Inc. cut its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,351 shares of the financial services provider’s stock after selling 208 shares during the period. Pacifica Partners Inc.’s holdings in Brookfield Asset Management were worth $617,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Hara Capital LLC bought a new stake in Brookfield Asset Management during the third quarter worth about $27,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Brookfield Asset Management during the 3rd quarter worth approximately $27,000. Richardson Financial Services Inc. raised its stake in shares of Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 755 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after buying an additional 771 shares in the last quarter. Finally, Continuum Advisory LLC increased its holdings in 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 worth $52,000 after buying an additional 329 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. UBS Group assumed coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. The Goldman Sachs Group lifted their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. BMO Capital Markets raised their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Royal Bank of Canada upped their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $54.38.

Brookfield Asset Management Stock Up 2.0 %

BAM opened at $52.98 on Wednesday. Brookfield Asset Management Ltd. has a twelve month low of $37.19 and a twelve month high of $59.58. The stock has a market capitalization of $23.47 billion, a price-to-earnings ratio of 46.89, a P/E/G ratio of 2.43 and a beta of 1.45. The company has a 50-day simple moving average of $55.91 and a 200 day simple moving average of $48.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business posted $0.35 EPS. Sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.87%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 134.51%.

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.