Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lessened its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 56.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,000 shares of the financial services provider's stock after selling 78,800 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Brookfield Asset Management were worth $3,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BAM. Wealth Enhancement Advisory Services LLC grew its stake in Brookfield Asset Management by 2.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,002 shares of the financial services provider's stock worth $2,083,000 after acquiring an additional 854 shares in the last quarter. Focus Financial Network Inc. raised its holdings in shares of Brookfield Asset Management by 5.2% in the first quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider's stock valued at $215,000 after acquiring an additional 218 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Brookfield Asset Management by 157.3% in the first quarter. Assenagon Asset Management S.A. now owns 10,183 shares of the financial services provider's stock worth $493,000 after acquiring an additional 6,225 shares during the period. SG Americas Securities LLC purchased a new stake in Brookfield Asset Management in the first quarter worth about $4,773,000. Finally, Avanza Fonder AB grew its holdings in Brookfield Asset Management by 37.2% during the 1st quarter. Avanza Fonder AB now owns 25,249 shares of the financial services provider's stock worth $1,223,000 after acquiring an additional 6,849 shares in the last quarter. Institutional investors own 68.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. Wall Street Zen upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. TD Securities boosted their target price 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. Jefferies Financial Group lowered 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 report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $59.46.

Brookfield Asset Management Stock Performance

Shares of BAM traded up $0.61 during trading hours on Wednesday, reaching $54.60. 1,353,118 shares of the company traded hands, compared to its average volume of 1,460,993. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average price of $54.36 and a 200-day moving average price of $54.32. The stock has a market capitalization of $88.04 billion, a P/E ratio of 38.72, a P/E/G ratio of 1.99 and a beta of 1.51. Brookfield Asset Management Ltd. has a 12-month low of $37.33 and a 12-month high of $62.61.

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 for the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. Equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.21%. The ex-dividend date is 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.