Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 7.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 292,162 shares of the financial services provider's stock after selling 22,640 shares during the quarter. Addenda Capital Inc.'s holdings in Brookfield Asset Management were worth $14,155,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Brookfield Asset Management in the fourth quarter worth $287,361,000. William Blair Investment Management LLC purchased a new position in Brookfield Asset Management during the fourth quarter worth $204,169,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Brookfield Asset Management by 103.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock valued at $216,507,000 after acquiring an additional 2,031,995 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in shares of Brookfield Asset Management in the fourth quarter valued at $94,122,000. Finally, TD Asset Management Inc. lifted its holdings in shares of Brookfield Asset Management by 8.9% in 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 last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. HSBC upgraded Brookfield Asset Management from a "hold" rating to a "buy" rating in a report on Friday, February 14th. JPMorgan Chase & Co. raised their price target on Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. BMO Capital Markets upped their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a research note on Thursday, February 13th. Finally, TD Securities boosted their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.15.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM traded up $0.19 during trading on Thursday, reaching $56.78. The company had a trading volume of 531,026 shares, compared to its average volume of 1,433,976. The stock's fifty day moving average price is $52.68 and its 200 day moving average price is $54.37. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The firm has a market capitalization of $91.56 billion, a price-to-earnings ratio of 43.02, a price-to-earnings-growth ratio of 1.92 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. On average, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management's dividend payout ratio (DPR) is presently 124.11%.

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.