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

New South Capital Management Inc. cut its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 5.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,684 shares of the financial services provider's stock after selling 4,945 shares during the quarter. New South Capital Management Inc.'s holdings in Brookfield Asset Management were worth $3,958,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Brookfield Asset Management during the 4th quarter valued at $287,361,000. William Blair Investment Management LLC purchased a new position in Brookfield Asset Management during the 4th quarter valued at about $204,169,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Brookfield Asset Management by 103.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock worth $216,507,000 after acquiring an additional 2,031,995 shares in the last quarter. Madison Investment Advisors LLC purchased a new stake in Brookfield Asset Management in the fourth quarter worth about $94,122,000. Finally, TD Asset Management Inc. grew its holdings in Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock worth $903,323,000 after purchasing an additional 1,359,126 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

BAM traded up $1.24 during midday trading on Thursday, hitting $56.78. 753,501 shares of the company traded hands, compared to its average volume of 1,576,420. The firm has a market capitalization of $92.98 billion, a PE ratio of 40.25, a price-to-earnings-growth ratio of 2.06 and a beta of 1.43. The company's 50-day moving average is $55.82 and its 200 day moving average is $54.13. Brookfield Asset Management Ltd. has a 52 week low of $37.80 and a 52 week high of $62.61. 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 earnings per share for the quarter, meeting analysts' consensus estimates of $0.40. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. On average, research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Friday, May 30th. Brookfield Asset Management's payout ratio is currently 124.11%.

Wall Street Analyst Weigh In

BAM has been the subject of several recent research reports. Scotiabank lifted their target price on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price objective on Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. Piper Sandler began coverage on Brookfield Asset Management in a research report on Monday. They issued a "neutral" rating and a $60.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on shares of Brookfield Asset Management from $54.00 to $55.00 and gave the company an "underweight" rating in a research report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.50.

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.