Castle Rock Wealth Management LLC lessened its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 27.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,020 shares of the financial services provider's stock after selling 8,766 shares during the quarter. Castle Rock Wealth Management LLC's holdings in Brookfield Asset Management were worth $1,134,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC increased its holdings in shares of Brookfield Asset Management by 487.2% in the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock worth $27,000 after purchasing an additional 419 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in shares of Brookfield Asset Management in the 4th quarter worth $32,000. NewEdge Advisors LLC grew its holdings in shares of Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after acquiring an additional 325 shares during the period. Kapitalo Investimentos Ltda bought a new stake in shares of Brookfield Asset Management in the fourth quarter worth $54,000. Finally, Redwood Park Advisors LLC bought a new stake in shares of Brookfield Asset Management in the fourth quarter worth $64,000. Hedge funds and other institutional investors own 68.41% of the company's stock.
Brookfield Asset Management Stock Performance
Shares of NYSE BAM traded up $0.21 during midday trading on Thursday, reaching $56.80. 379,676 shares of the stock were exchanged, compared to its average volume of 1,433,351. The company has a 50 day simple moving average of $52.68 and a 200 day simple moving average of $54.37. The stock has a market capitalization of $91.59 billion, a P/E ratio of 43.03, a PEG ratio of 1.92 and a beta of 1.56. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.40. The company 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, research analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.
Brookfield Asset Management Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.08%. Brookfield Asset Management's payout ratio is currently 124.11%.
Wall Street Analysts Forecast Growth
BAM has been the subject of several research analyst reports. Jefferies Financial Group cut 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. Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. Hsbc Global Res raised 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 stock a "market perform" rating in a report on Thursday, February 13th. Finally, HSBC raised Brookfield Asset Management from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.15.
Read Our Latest Research Report on BAM
Brookfield Asset Management Company Profile
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Free Report)
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.
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