New South Capital Management Inc. Reduces Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

New South Capital Management Inc. decreased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 5.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,684 shares of the financial services provider's stock after selling 4,945 shares during the period. New South Capital Management Inc.'s holdings in Brookfield Asset Management were worth $3,958,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BAM. Kirr Marbach & Co. LLC IN increased its holdings in Brookfield Asset Management by 0.6% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider's stock valued at $1,715,000 after purchasing an additional 203 shares during the period. RE Dickinson Investment Advisors LLC increased its position in 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 buying an additional 215 shares in the last quarter. Focus Financial Network Inc. raised its holdings in Brookfield Asset Management by 5.2% in the 1st quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider's stock worth $215,000 after acquiring an additional 218 shares during the last quarter. Gold Investment Management Ltd. raised its stake in shares of Brookfield Asset Management by 0.5% in the fourth quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider's stock worth $2,271,000 after purchasing an additional 219 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake 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 valued at $47,000 after acquiring an additional 325 shares during the period. Institutional investors own 68.41% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BAM. Bank of America raised shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price for the company in a report on Thursday, April 10th. Royal Bank Of Canada began coverage on Brookfield Asset Management in a report on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 target price on the stock. Scotiabank lifted their target price on Brookfield Asset Management from $58.00 to $59.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. upped their price target on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company raised their price objective on Brookfield Asset Management from $54.00 to $55.00 and gave the stock an "underweight" rating in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $59.50.

Brookfield Asset Management Trading Up 2.8%

NYSE:BAM traded up $1.58 during trading hours on Friday, reaching $57.12. 1,432,599 shares of the stock were exchanged, compared to its average volume of 1,586,617. Brookfield Asset Management Ltd. has a twelve month low of $37.80 and a twelve month high of $62.61. The business has a 50-day moving average of $56.00 and a two-hundred day moving average of $54.12. The company has a market capitalization of $93.52 billion, a price-to-earnings ratio of 40.51, a PEG ratio of 2.13 and a beta of 1.43. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.07.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting analysts' consensus estimates 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 return on equity of 52.70% and a net margin of 55.26%. On average, equities analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.06%. The ex-dividend date was Friday, May 30th. Brookfield Asset Management's 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.