Motley Fool Asset Management LLC Sells 7,068 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• Motley Fool Asset Management LLC reduced its stake in Brookfield Asset Management by 3.4% during Q1, now holding 203,432 shares valued at approximately $9.9 million.
• Brookfield Asset Management recently declared a quarterly dividend of $0.4375, leading to an annualized rate of $1.75 and a yield of 2.9%.
• Brookfield's stock has a market capitalization of $100.49 billion with a current price ranging around $61.36, showing a 52-week low of $38.95 and a high of $64.10.

Motley Fool Asset Management LLC decreased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 3.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 203,432 shares of the financial services provider's stock after selling 7,068 shares during the period. Motley Fool Asset Management LLC's holdings in Brookfield Asset Management were worth $9,856,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BAM. LPL Financial LLC increased its stake in shares of Brookfield Asset Management by 12.8% in the 4th quarter. LPL Financial LLC now owns 52,181 shares of the financial services provider's stock valued at $2,828,000 after purchasing an additional 5,934 shares during the last quarter. RE Dickinson Investment Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 3.2% during the 4th quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider's stock valued at $377,000 after acquiring an additional 215 shares in the last quarter. Bragg Financial Advisors Inc boosted its holdings in shares of Brookfield Asset Management by 0.3% during the 4th quarter. Bragg Financial Advisors Inc now owns 201,323 shares of the financial services provider's stock valued at $10,915,000 after acquiring an additional 621 shares in the last quarter. Barclays PLC boosted its holdings in shares of Brookfield Asset Management by 274.0% during the 4th quarter. Barclays PLC now owns 7,492 shares of the financial services provider's stock valued at $406,000 after acquiring an additional 5,489 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 325 shares in the last quarter. Institutional investors own 68.41% of the company's stock.

Analysts Set New Price Targets

BAM has been the topic of several recent research reports. Piper Sandler initiated coverage on Brookfield Asset Management in a report on Monday, June 30th. They set a "neutral" rating and a $60.00 price objective on the stock. BMO Capital Markets raised their price objective on Brookfield Asset Management from $53.00 to $56.00 and gave the company a "market perform" rating in a report on Thursday, August 7th. CIBC raised their price objective on Brookfield Asset Management from $70.00 to $71.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. National Bank Financial initiated coverage on Brookfield Asset Management in a report on Tuesday, July 29th. They set an "outperform" rating and a $71.00 target price on the stock. Finally, Morgan Stanley lifted their target price on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management presently has an average rating of "Moderate Buy" and a consensus price target of $63.33.

Brookfield Asset Management Trading Down 0.5%

Shares of BAM stock traded down $0.33 during mid-day trading on Thursday, hitting $62.18. The company's stock had a trading volume of 1,540,946 shares, compared to its average volume of 2,102,868. The company's fifty day simple moving average is $58.13 and its 200-day simple moving average is $55.14. Brookfield Asset Management Ltd. has a 52 week low of $39.19 and a 52 week high of $64.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.25. The company has a market cap of $100.30 billion, a PE ratio of 41.73, a P/E/G ratio of 2.26 and a beta of 1.44.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a $0.4375 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.75 annualized dividend and a dividend yield of 2.8%. Brookfield Asset Management's dividend payout ratio (DPR) is 117.45%.

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.