Brookfield Asset Management Ltd. $BAM Shares Sold by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services cut its stake in Brookfield Asset Management by 6.3% in Q4, selling 300,764 shares and now holding 4,506,208 shares (about 0.28%) valued at $236.08 million.
• Brookfield raised its quarterly dividend to $0.5025 (annualized $2.01) for a ~4.5% yield, though the payout ratio is high at 132.24%.
• Analysts are mixed: MarketBeat reports a consensus rating of Hold with a $61.82 price target, while individual ratings range from Strong Buy to Sell; the company posted Q4 EPS of $0.47 versus $0.41 expected.

Massachusetts Financial Services Co. MA reduced its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,506,208 shares of the financial services provider's stock after selling 300,764 shares during the period. Massachusetts Financial Services Co. MA owned 0.28% of Brookfield Asset Management worth $236,080,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. PDS Planning Inc increased its position in Brookfield Asset Management by 4.8% during the 3rd quarter. PDS Planning Inc now owns 4,054 shares of the financial services provider's stock worth $231,000 after purchasing an additional 184 shares in the last quarter. Truist Financial Corp raised its stake in Brookfield Asset Management by 1.4% in the 3rd quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider's stock valued at $754,000 after purchasing an additional 187 shares during the last quarter. Focus Financial Network Inc. raised its stake in Brookfield Asset Management by 4.6% in the 4th quarter. Focus Financial Network Inc. now owns 4,436 shares of the financial services provider's stock valued at $232,000 after purchasing an additional 194 shares during the last quarter. Yousif Capital Management LLC raised its stake in Brookfield Asset Management by 2.1% in the 3rd quarter. Yousif Capital Management LLC now owns 11,010 shares of the financial services provider's stock valued at $627,000 after purchasing an additional 226 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in Brookfield Asset Management by 38.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 233 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAM has been the subject of several analyst reports. Royal Bank Of Canada set a $74.00 target price on shares of Brookfield Asset Management and gave the company an "outperform" rating in a research note on Monday, December 15th. JPMorgan Chase & Co. boosted their target price on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the company a "neutral" rating in a research note on Thursday, February 5th. BMO Capital Markets raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 5th. UBS Group set a $52.00 target price on shares of Brookfield Asset Management in a research note on Friday, February 20th. Finally, Weiss Ratings cut shares of Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $61.82.

Brookfield Asset Management Stock Up 0.1%

BAM stock opened at $44.96 on Monday. The stock has a market capitalization of $73.65 billion, a P/E ratio of 29.58, a PEG ratio of 1.83 and a beta of 1.38. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10. The company has a 50 day moving average price of $46.84 and a two-hundred day moving average price of $51.20.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th were paid a $0.5025 dividend. This represents a $2.01 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, February 27th. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.44. Brookfield Asset Management's dividend payout ratio is presently 132.24%.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company's products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.

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