Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Waterfront Wealth Inc.

Waterfront Wealth Inc. cut its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 18,896 shares of the financial services provider’s stock after selling 174 shares during the period. Waterfront Wealth Inc.’s holdings in Brookfield Asset Management were worth $1,024,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Tandem Capital Management Corp ADV boosted its stake in shares of Brookfield Asset Management by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock worth $2,119,000 after acquiring an additional 175 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Brookfield Asset Management by 0.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock valued at $2,201,000 after purchasing an additional 188 shares in the last quarter. Procyon Advisors LLC boosted its stake in Brookfield Asset Management by 2.7% during the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 249 shares during the last quarter. Pathstone Holdings LLC boosted its stake in Brookfield Asset Management by 1.0% during the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock worth $1,379,000 after purchasing an additional 278 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its position in shares of Brookfield Asset Management by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock valued at $315,000 after buying an additional 315 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Down 3.1 %

NYSE BAM opened at $58.45 on Friday. The stock has a fifty day simple moving average of $56.67 and a 200-day simple moving average of $51.69. The stock has a market cap of $25.90 billion, a PE ratio of 44.28, a P/E/G ratio of 2.20 and a beta of 1.46. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share 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%. Research analysts predict that Brookfield Asset Management Ltd. will post 1.71 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is 115.15%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BAM. BMO Capital Markets boosted their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. Wells Fargo & Company lowered their target price on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a report on Thursday, February 13th. Scotiabank dropped their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Finally, Keefe, Bruyette & Woods dropped their target price 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. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Hold” and an average target price of $56.71.

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.