Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Hendershot Investments Inc.

Hendershot Investments Inc. trimmed its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,158 shares of the financial services provider’s stock after selling 580 shares during the quarter. Hendershot Investments Inc.’s holdings in Brookfield Asset Management were worth $388,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Brookfield Asset Management by 66.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock valued at $92,896,000 after buying an additional 784,250 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Brookfield Asset Management in the third quarter valued at $19,075,000. CIBC Asset Management Inc grew its position in Brookfield Asset Management by 10.3% during the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after acquiring an additional 370,383 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Brookfield Asset Management during the third quarter worth about $14,216,000. Finally, Bamco Inc. NY raised its holdings in shares of Brookfield Asset Management by 31.5% in the 3rd quarter. Bamco Inc. NY now owns 1,100,435 shares of the financial services provider’s stock worth $52,040,000 after purchasing an additional 263,532 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BAM shares. The Goldman Sachs Group boosted their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada raised their target price 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. UBS Group began coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating for the company. Keefe, Bruyette & Woods reduced their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. Finally, Scotiabank raised their target price on Brookfield Asset Management from $59.50 to $63.00 and gave the company a “sector outperform” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.42.

Brookfield Asset Management Stock Up 0.0 %

Shares of BAM opened at $57.91 on Friday. The firm has a market cap of $25.66 billion, a price-to-earnings ratio of 51.25, a PEG ratio of 2.26 and a beta of 1.46. The business’s 50 day moving average is $56.48 and its two-hundred day moving average is $50.53. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61.

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.