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

Marathon Asset Management Ltd reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 397,477 shares of the financial services provider's stock after selling 9,693 shares during the period. Marathon Asset Management Ltd's holdings in Brookfield Asset Management were worth $19,241,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Gold Investment Management Ltd. lifted its holdings in shares of Brookfield Asset Management by 9.8% in the 1st quarter. Gold Investment Management Ltd. now owns 45,979 shares of the financial services provider's stock worth $2,227,000 after purchasing an additional 4,090 shares during the last quarter. SOL Capital Management CO increased its position in Brookfield Asset Management by 62.5% in the first quarter. SOL Capital Management CO now owns 51,372 shares of the financial services provider's stock worth $2,489,000 after buying an additional 19,756 shares during the period. Kirr Marbach & Co. LLC IN increased its position in Brookfield Asset Management by 0.6% in the first quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider's stock worth $1,715,000 after buying an additional 203 shares during the period. Davidson Kahn Capital Management LLC lifted its stake in Brookfield Asset Management by 10.5% in the first quarter. Davidson Kahn Capital Management LLC now owns 52,486 shares of the financial services provider's stock valued at $2,543,000 after buying an additional 4,995 shares during the last quarter. Finally, Intact Investment Management Inc. bought a new stake in Brookfield Asset Management in the first quarter valued at $6,434,000. 68.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BAM has been the topic of a number of analyst reports. TD Securities increased their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a report 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 stock an "equal weight" rating in a research report on Friday, May 16th. 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 target on the stock. Wells Fargo & Company boosted their price objective on Brookfield Asset Management from $54.00 to $55.00 and gave the stock an "underweight" rating in a research report on Friday, May 23rd. Finally, Bank of America raised Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price objective for the company in a report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.46.

Brookfield Asset Management Price Performance

Shares of BAM stock traded down $0.11 during mid-day trading on Friday, hitting $55.01. 23,014,754 shares of the stock traded hands, compared to its average volume of 1,568,315. Brookfield Asset Management Ltd. has a twelve month low of $37.40 and a twelve month high of $62.61. 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 company's 50-day simple moving average is $55.45 and its 200-day simple moving average is $54.19. The firm has a market cap of $90.08 billion, a price-to-earnings ratio of 39.02, a price-to-earnings-growth ratio of 2.00 and a beta of 1.51.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.40. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. As a group, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 3.18%. 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.