Wellington Management Group LLP Has $17.96 Million Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Wellington Management Group LLP decreased its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 5.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 331,317 shares of the financial services provider's stock after selling 18,951 shares during the quarter. Wellington Management Group LLP owned 0.07% of Brookfield Asset Management worth $17,955,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Mediolanum International Funds Ltd acquired a new position in shares of Brookfield Asset Management in the fourth quarter worth about $477,000. Tandem Capital Management Corp ADV boosted its stake in Brookfield Asset Management by 0.4% in the 4th quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider's stock worth $2,119,000 after purchasing an additional 175 shares during the period. Choreo LLC grew its position in Brookfield Asset Management by 96.9% during the 4th quarter. Choreo LLC now owns 10,087 shares of the financial services provider's stock worth $551,000 after purchasing an additional 4,964 shares in the last quarter. Wilmington Savings Fund Society FSB grew its position in Brookfield Asset Management by 38.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,094 shares of the financial services provider's stock worth $330,000 after purchasing an additional 1,680 shares in the last quarter. Finally, Focus Financial Network Inc. acquired a new stake in Brookfield Asset Management during the 4th quarter valued at $229,000. Hedge funds and other institutional investors own 68.41% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BAM. TD Securities boosted their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Bank of America raised Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target for the company in a research note on Thursday, April 10th. HSBC raised shares of Brookfield Asset Management from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Wall Street Zen raised shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, Hsbc Global Res raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $59.15.

Brookfield Asset Management Price Performance

Shares of NYSE BAM traded up $0.39 during mid-day trading on Tuesday, hitting $56.48. The company had a trading volume of 1,500,968 shares, compared to its average volume of 1,433,716. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The firm has a market cap of $91.08 billion, a P/E ratio of 42.79, a PEG ratio of 1.92 and a beta of 1.56. The business's 50-day simple moving average is $52.40 and its 200-day simple moving average is $54.34.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. As a group, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.10%. 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.