Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Advisors Capital Management LLC

Advisors Capital Management LLC cut its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,285 shares of the financial services provider’s stock after selling 583 shares during the quarter. 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 institutional investors have also added to or reduced their stakes in BAM. FMR LLC lifted its stake in shares of Brookfield Asset Management by 2.3% during the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock worth $1,064,983,000 after buying an additional 447,642 shares during the period. Vanguard Group Inc. raised its stake in Brookfield Asset Management by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after acquiring an additional 263,660 shares during the last quarter. TD Asset Management Inc. lifted its position in Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after acquiring an additional 1,359,126 shares during the period. FIL Ltd grew its stake in Brookfield Asset Management by 3.9% during the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock valued at $833,581,000 after purchasing an additional 574,978 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Brookfield Asset Management by 3.7% in the fourth quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider’s stock valued at $518,655,000 after purchasing an additional 339,072 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $48.72 on Wednesday. The firm 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. The firm’s fifty day moving average price is $51.52 and its 200 day moving average price is $53.60. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts expect 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 announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.59%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, February 28th. Brookfield Asset Management’s payout ratio is presently 132.58%.

Analysts Set New Price Targets

Several research firms have recently commented on BAM. Bank of America raised shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Thursday, April 10th. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Jefferies Financial Group decreased their price objective on Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Finally, HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.