Brookfield Asset Management Ltd. (NYSE:BAM) Holdings Trimmed by New South Capital Management Inc.

New South Capital Management Inc. trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 86,629 shares of the financial services provider’s stock after selling 3,947 shares during the period. New South Capital Management Inc.’s holdings in Brookfield Asset Management were worth $4,694,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in shares of Brookfield Asset Management by 5.2% during the 3rd quarter. US Bancorp DE now owns 15,004 shares of the financial services provider’s stock valued at $710,000 after buying an additional 736 shares during the period. River Road Asset Management LLC boosted its stake in shares of Brookfield Asset Management by 23.5% during the 3rd quarter. River Road Asset Management LLC now owns 182,478 shares of the financial services provider’s stock valued at $8,629,000 after buying an additional 34,726 shares during the period. Heritage Investors Management Corp acquired a new stake in shares of Brookfield Asset Management during the 3rd quarter valued at $234,000. Marks Group Wealth Management Inc lifted its stake in shares of Brookfield Asset Management by 3.9% in the 3rd quarter. Marks Group Wealth Management Inc now owns 171,680 shares of the financial services provider’s stock valued at $8,119,000 after purchasing an additional 6,421 shares during the last quarter. Finally, Radnor Capital Management LLC acquired a new stake in shares of Brookfield Asset Management in the 3rd quarter valued at $430,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BAM has been the subject of several analyst reports. TD Securities lifted their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, February 10th. CIBC boosted their target price 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. Scotiabank cut their target price on shares of 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. The Goldman Sachs Group boosted their target price 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. Finally, HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.71.

Brookfield Asset Management Trading Up 2.9 %

NYSE BAM opened at $54.00 on Thursday. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The stock’s 50 day moving average is $56.72 and its two-hundred day moving average is $52.66. The company has a market capitalization of $23.93 billion, a price-to-earnings ratio of 40.91, a PEG ratio of 1.92 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. On average, analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.24%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is 132.58%.

About Brookfield Asset Management

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.