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

Fenimore Asset Management Inc lessened its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 2.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 914,247 shares of the financial services provider's stock after selling 21,847 shares during the quarter. Fenimore Asset Management Inc owned 0.06% of Brookfield Asset Management worth $44,295,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Choreo LLC grew its position in shares of Brookfield Asset Management by 96.9% in the 4th quarter. Choreo LLC now owns 10,087 shares of the financial services provider's stock worth $551,000 after acquiring an additional 4,964 shares in the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of Brookfield Asset Management by 38.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,094 shares of the financial services provider's stock worth $330,000 after acquiring an additional 1,680 shares in the last quarter. Focus Financial Network Inc. acquired a new position in shares of Brookfield Asset Management in the 4th quarter worth approximately $229,000. Louisbourg Investments Inc. grew its position in shares of Brookfield Asset Management by 3,312.7% in the 4th quarter. Louisbourg Investments Inc. now owns 49,552 shares of the financial services provider's stock worth $2,686,000 after acquiring an additional 48,100 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA grew its position in shares of Brookfield Asset Management by 3.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 479,850 shares of the financial services provider's stock worth $26,003,000 after acquiring an additional 14,500 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BAM shares. Bank of America upgraded Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price for the company in a research report on Thursday, April 10th. Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. lifted their target price 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. HSBC raised Brookfield Asset Management from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Morgan Stanley lifted their target price on Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $59.15.

Brookfield Asset Management Stock Up 1.7%

Shares of NYSE BAM opened at $57.55 on Monday. The stock has a market capitalization of $92.80 billion, a price-to-earnings ratio of 43.60, a PEG ratio of 1.92 and a beta of 1.51. The stock's fifty day simple moving average is $53.01 and its 200 day simple moving average is $54.38. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61.

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

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given 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 yield of 3.04%. Brookfield Asset Management's payout ratio is 124.11%.

Brookfield Asset Management 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.

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