Marks Group Wealth Management Inc Trims Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Marks Group Wealth Management Inc lowered its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 4.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 163,513 shares of the financial services provider's stock after selling 7,258 shares during the quarter. Marks Group Wealth Management Inc's holdings in Brookfield Asset Management were worth $7,922,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. acquired a new stake in shares of Brookfield Asset Management in the 1st quarter valued at $26,000. Rossby Financial LCC acquired a new stake in Brookfield Asset Management in the first quarter valued at $28,000. Mountain Hill Investment Partners Corp. purchased a new stake in Brookfield Asset Management during the 4th quarter worth about $32,000. NewEdge Advisors LLC lifted its holdings in Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after buying an additional 325 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Brookfield Asset Management during the 4th quarter worth about $54,000. Hedge funds and other institutional investors own 68.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BAM shares. Morgan Stanley increased their price target on shares of 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. Piper Sandler initiated coverage on shares of Brookfield Asset Management in a research note on Monday, June 30th. They set a "neutral" rating and a $60.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a research note on Friday. Royal Bank Of Canada started coverage on Brookfield Asset Management in a report on Wednesday, June 18th. They set an "outperform" rating and a $72.00 price objective on the stock. Finally, TD Securities boosted their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.64.

Brookfield Asset Management Price Performance

BAM stock traded down $0.45 during trading on Friday, reaching $56.13. 1,402,263 shares of the company were exchanged, compared to its average volume of 1,605,361. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.31 and a current ratio of 1.31. The stock's 50 day moving average price is $56.21 and its 200 day moving average price is $54.15. Brookfield Asset Management Ltd. has a 52-week low of $38.18 and a 52-week high of $62.61. The company has a market cap of $91.90 billion, a P/E ratio of 39.80, a PEG ratio of 2.13 and a beta of 1.43.

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 earnings per share 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 52.70% and a net margin of 55.26%. As a group, analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Friday, May 30th. Brookfield Asset Management's dividend payout ratio is currently 124.11%.

About Brookfield Asset Management

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.