Toronto Dominion Bank Sells 190,964 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Toronto Dominion Bank decreased its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 18.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 865,955 shares of the financial services provider's stock after selling 190,964 shares during the quarter. Toronto Dominion Bank owned approximately 0.20% of Brookfield Asset Management worth $46,907,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BAM. FMR LLC lifted its holdings in Brookfield Asset Management by 2.3% during the 4th quarter. FMR LLC now owns 19,646,285 shares of the financial services provider's stock valued at $1,064,983,000 after purchasing an additional 447,642 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Brookfield Asset Management by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider's stock valued at $916,676,000 after acquiring an additional 263,660 shares during the last quarter. TD Asset Management Inc. boosted its holdings in shares of Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock worth $903,323,000 after acquiring an additional 1,359,126 shares in the last quarter. Capital International Investors grew its position in Brookfield Asset Management by 0.7% during the 4th quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider's stock worth $873,354,000 after acquiring an additional 116,008 shares during the last quarter. Finally, FIL Ltd increased its holdings in Brookfield Asset Management by 3.9% during the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider's stock valued at $833,581,000 after purchasing an additional 574,978 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BAM has been the subject of a number of research reports. Wells Fargo & Company raised their target price on Brookfield Asset Management from $48.00 to $54.00 and gave the company an "underweight" rating in a research note on Wednesday, May 7th. Morgan Stanley upped their target price on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. Bank of America upgraded shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target for the company in a research report on Thursday, April 10th. CIBC increased their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, HSBC raised shares of Brookfield Asset Management from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Brookfield Asset Management has an average rating of "Moderate Buy" and an average target price of $59.08.

Brookfield Asset Management Trading Down 0.6%

Shares of Brookfield Asset Management stock traded down $0.34 during trading on Friday, reaching $56.90. The stock had a trading volume of 439,406 shares, compared to its average volume of 1,387,041. The company has a market capitalization of $91.75 billion, a price-to-earnings ratio of 43.03, a P/E/G ratio of 1.92 and a beta of 1.56. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The stock has a fifty day moving average price of $51.52 and a two-hundred day moving average price of $54.37.

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

Brookfield Asset Management Dividend Announcement

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 $0.4375 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.75 annualized dividend and a dividend yield of 3.08%. Brookfield Asset Management's dividend payout ratio is presently 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.