Brookfield Asset Management Ltd. (NYSE:BAM) Stake Lowered by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC decreased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 380,974 shares of the financial services provider's stock after selling 14,989 shares during the period. Segall Bryant & Hamill LLC's holdings in Brookfield Asset Management were worth $18,458,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BAM. Norges Bank acquired a new position in Brookfield Asset Management during the 4th quarter worth about $287,361,000. TD Asset Management Inc. raised its position in Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock valued at $903,323,000 after purchasing an additional 1,359,126 shares in the last quarter. Marshall Wace LLP acquired a new stake in Brookfield Asset Management in the 4th quarter valued at about $43,321,000. FIL Ltd raised its position in Brookfield Asset Management by 3.9% in the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider's stock valued at $833,581,000 after purchasing an additional 574,978 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Brookfield Asset Management by 31.3% in the 4th quarter. Geode Capital Management LLC now owns 2,116,337 shares of the financial services provider's stock valued at $117,171,000 after purchasing an additional 504,478 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Price Performance

Shares of NYSE BAM traded down $0.73 during trading on Friday, reaching $60.76. The company had a trading volume of 1,549,618 shares, compared to its average volume of 1,624,518. Brookfield Asset Management Ltd. has a twelve month low of $38.18 and a twelve month high of $62.61. The stock has a market capitalization of $99.49 billion, a PE ratio of 43.09, a price-to-earnings-growth ratio of 2.38 and a beta of 1.43. The stock has a 50-day moving average price of $56.56 and a two-hundred day moving average price of $54.31. The company has a current ratio of 1.31, a quick 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 quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting 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 business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. As a group, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, May 30th. Brookfield Asset Management's dividend payout ratio is presently 124.11%.

Analysts Set New Price Targets

A number of research analysts have recently commented on BAM shares. TD Securities increased their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. raised their price target on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Wells Fargo & Company raised their price target on Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a research note on Friday, July 11th. Bank of America upgraded Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target on the stock in a research note on Thursday, April 10th. Finally, Wall Street Zen upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. 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's stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.64.

Brookfield Asset Management Company 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.