Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC reduced its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 14.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 289,382 shares of the financial services provider's stock after selling 50,566 shares during the period. Sequoia Financial Advisors LLC's holdings in Brookfield Asset Management were worth $14,021,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of BAM. Sanctuary Advisors LLC increased its holdings in shares of Brookfield Asset Management by 2.3% in the fourth quarter. Sanctuary Advisors LLC now owns 20,617 shares of the financial services provider's stock valued at $1,117,000 after purchasing an additional 462 shares during the period. Global Retirement Partners LLC increased its stake in Brookfield Asset Management by 170.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,406 shares of the financial services provider's stock valued at $76,000 after buying an additional 887 shares during the period. Bank of New York Mellon Corp raised its position in Brookfield Asset Management by 6.1% during the 4th quarter. Bank of New York Mellon Corp now owns 663,389 shares of the financial services provider's stock worth $35,949,000 after buying an additional 38,331 shares during the last quarter. Denali Advisors LLC purchased a new position in Brookfield Asset Management during the 4th quarter worth $341,000. Finally, K.J. Harrison & Partners Inc lifted its stake in shares of Brookfield Asset Management by 15.6% in the 4th quarter. K.J. Harrison & Partners Inc now owns 9,622 shares of the financial services provider's stock worth $523,000 after acquiring an additional 1,300 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Up 1.7%

Brookfield Asset Management stock opened at $55.28 on Friday. Brookfield Asset Management Ltd. has a fifty-two week low of $37.40 and a fifty-two week high of $62.61. The firm has a market capitalization of $90.52 billion, a price-to-earnings ratio of 39.20, a price-to-earnings-growth ratio of 1.97 and a beta of 1.51. The stock's fifty day moving average is $55.32 and its two-hundred day moving average is $54.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.31 and a current ratio of 1.31.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. Analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Friday, May 30th. Brookfield Asset Management's dividend payout ratio (DPR) is presently 124.11%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BAM shares. Jefferies Financial Group dropped their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley boosted their target price on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Scotiabank increased their target price on Brookfield Asset Management from $58.00 to $59.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company upped their price objective on Brookfield Asset Management from $54.00 to $55.00 and gave the stock an "underweight" rating in a report on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.46.

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.

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