Blair William & Co. IL Sells 4,082 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• Blair William & Co. IL reduced its stake in Brookfield Asset Management by 15.1%, now holding 22,955 shares valued at $1,112,000.
• Brookfield Asset Management announced a quarterly dividend of $0.4375, representing a 2.9% dividend yield and a payout ratio of 117.45%.
• Analysts have set a consensus target price of $62.33 for Brookfield's stock, with recommendations ranging from "sell" to "buy."

Blair William & Co. IL reduced its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 15.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,955 shares of the financial services provider's stock after selling 4,082 shares during the quarter. Blair William & Co. IL's holdings in Brookfield Asset Management were worth $1,112,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BAM. Cerity Partners LLC grew its stake in Brookfield Asset Management by 36.6% in the first quarter. Cerity Partners LLC now owns 29,482 shares of the financial services provider's stock valued at $1,428,000 after acquiring an additional 7,901 shares during the period. Teacher Retirement System of Texas increased its position in Brookfield Asset Management by 9.9% in the first quarter. Teacher Retirement System of Texas now owns 68,700 shares of the financial services provider's stock worth $3,329,000 after buying an additional 6,200 shares during the last quarter. Capital A Wealth Management LLC purchased a new stake in Brookfield Asset Management in the fourth quarter worth $412,000. BNP Paribas Financial Markets purchased a new stake in Brookfield Asset Management in the fourth quarter worth $183,000. Finally, Intact Investment Management Inc. purchased a new stake in Brookfield Asset Management in the first quarter worth $6,434,000. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock traded down $0.57 during midday trading on Thursday, hitting $61.94. 674,159 shares of the company's stock were exchanged, compared to its average volume of 2,097,224. Brookfield Asset Management Ltd. has a 52-week low of $39.19 and a 52-week high of $64.10. The stock has a 50-day moving average price of $58.13 and a two-hundred day moving average price of $55.14. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.25. The company has a market cap of $99.91 billion, a P/E ratio of 41.55, a PEG ratio of 2.26 and a beta of 1.44.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.75 annualized dividend and a yield of 2.8%. Brookfield Asset Management's payout ratio is 117.45%.

Analysts Set New Price Targets

A number of research firms have issued reports on BAM. TD Securities raised their target price on Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Jefferies Financial Group raised their target price on Brookfield Asset Management from $55.00 to $62.00 and gave the stock a "hold" rating in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Piper Sandler assumed coverage on Brookfield Asset Management in a research report on Monday, June 30th. They issued a "neutral" rating and a $60.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a research report on Friday, July 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $63.33.

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.