Mackenzie Financial Corp Sells 1,334,654 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Mackenzie Financial Corp cut its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,832,181 shares of the financial services provider's stock after selling 1,334,654 shares during the quarter. Brookfield Asset Management accounts for 0.8% of Mackenzie Financial Corp's portfolio, making the stock its 27th biggest holding. Mackenzie Financial Corp owned 2.67% of Brookfield Asset Management worth $641,026,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Tandem Capital Management Corp ADV lifted its position in shares of Brookfield Asset Management by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider's stock valued at $2,119,000 after acquiring an additional 175 shares in the last quarter. RE Dickinson Investment Advisors LLC boosted its holdings in Brookfield Asset Management by 3.2% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider's stock valued at $377,000 after purchasing an additional 215 shares during the last quarter. Gold Investment Management Ltd. lifted its holdings in Brookfield Asset Management by 0.5% during the 4th quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider's stock worth $2,271,000 after buying an additional 219 shares during the last quarter. 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, Lindbrook Capital LLC lifted its holdings in Brookfield Asset Management by 20.5% during the 4th quarter. Lindbrook Capital LLC now owns 2,174 shares of the financial services provider's stock worth $118,000 after buying an additional 370 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Price Performance

BAM stock traded down $0.25 during trading hours on Thursday, reaching $55.96. 798,555 shares of the stock were exchanged, compared to its average volume of 1,936,919. The firm's 50-day moving average is $52.11 and its 200-day moving average is $54.39. The company has a market cap of $90.24 billion, a price-to-earnings ratio of 42.40, a PEG ratio of 1.92 and a beta of 1.56. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61.

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

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a $0.4375 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.75 annualized dividend and a yield of 3.13%. Brookfield Asset Management's payout ratio is 124.11%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BAM shares. Morgan Stanley raised their target price on 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. HSBC raised Brookfield Asset Management from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Hsbc Global Res raised Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Jefferies Financial Group reduced their price objective on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Finally, TD Securities raised 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 investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management has a consensus rating of "Moderate Buy" and an average 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.