Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 155,808 shares of the financial services provider’s stock after selling 3,793 shares during the quarter. River Road Asset Management LLC’s holdings in Brookfield Asset Management were worth $6,259,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BAM. Moneta Group Investment Advisors LLC lifted its holdings in shares of Brookfield Asset Management by 30,651.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 31,097,454 shares of the financial services provider’s stock worth $891,564,000 after acquiring an additional 30,996,329 shares during the last quarter. Norges Bank purchased a new stake in Brookfield Asset Management during the 4th quarter worth approximately $152,180,000. Goldman Sachs Group Inc. increased its stake in Brookfield Asset Management by 166.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,051,145 shares of the financial services provider’s stock worth $398,883,000 after buying an additional 4,402,115 shares during the period. Bank of America Corp DE increased its stake in Brookfield Asset Management by 160.5% during the 1st quarter. Bank of America Corp DE now owns 3,268,982 shares of the financial services provider’s stock worth $106,961,000 after buying an additional 2,013,890 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Brookfield Asset Management by 44.6% during the 4th quarter. Mackenzie Financial Corp now owns 6,341,977 shares of the financial services provider’s stock worth $254,842,000 after buying an additional 1,955,842 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. HSBC downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. CIBC upped their target price on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. TD Securities dropped their price objective on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a research report on Tuesday, January 9th. Royal Bank of Canada increased their price objective on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Finally, Scotiabank increased their price objective on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.20.

Brookfield Asset Management Trading Up 1.5 %

Shares of Brookfield Asset Management stock opened at $39.04 on Thursday. The stock has a market cap of $16.13 billion, a price-to-earnings ratio of 34.55, a PEG ratio of 1.48 and a beta of 1.68. The company has a fifty day simple moving average of $41.06 and a 200-day simple moving average of $37.47. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $1.13 billion during the quarter. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. During the same quarter in the prior year, the company earned $0.31 EPS. On average, analysts forecast that Brookfield Asset Management Ltd. will post 1.49 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were paid a dividend of $0.38 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.52 dividend on an annualized basis and a yield of 3.89%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.32. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

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.