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

Fenimore Asset Management Inc lowered its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 2.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BAM. ST Germain D J Co. Inc. purchased a new stake in Brookfield Asset Management in the 1st quarter valued at about $26,000. Truvestments Capital LLC raised its stake 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 valued at $27,000 after acquiring an additional 419 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in shares of Brookfield Asset Management in the 4th quarter worth approximately $32,000. NewEdge Advisors LLC lifted its holdings in shares of Brookfield Asset Management by 61.0% in the 4th 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 last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Brookfield Asset Management during the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Stock Up 0.7%

BAM traded up $0.38 during trading on Thursday, hitting $56.16. 1,303,959 shares of the stock were exchanged, compared to its average volume of 1,461,114. Brookfield Asset Management Ltd. has a 1-year low of $37.30 and a 1-year high of $62.61. The stock has a fifty day moving average price of $53.50 and a two-hundred day moving average price of $54.40. The firm has a market capitalization of $90.56 billion, a P/E ratio of 42.55, a PEG ratio of 1.92 and a beta of 1.51.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. Analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management's dividend payout ratio (DPR) is presently 124.11%.

Analyst Ratings Changes

Several research analysts have recently commented on BAM shares. TD Securities lifted their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Hsbc Global Res upgraded shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. Wall Street Zen raised shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Jefferies Financial Group dropped their target price on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Finally, Scotiabank raised their price target on Brookfield Asset Management from $58.00 to $59.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.15.

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.