Wellington Management Group LLP Sells 18,951 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Wellington Management Group LLP trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Bank of Montreal Can boosted its holdings in Brookfield Asset Management by 3.7% during the 4th quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider's stock worth $518,655,000 after acquiring an additional 339,072 shares during the last quarter. TD Asset Management Inc. boosted its holdings in Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock worth $903,323,000 after acquiring an additional 1,359,126 shares during the last quarter. American Century Companies Inc. boosted its holdings in Brookfield Asset Management by 30.5% during the 4th quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider's stock worth $4,033,000 after acquiring an additional 17,369 shares during the last quarter. Laffer Tengler Investments Inc. boosted its holdings in Brookfield Asset Management by 24.2% during the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider's stock worth $8,008,000 after acquiring an additional 28,768 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its holdings in shares of Brookfield Asset Management by 173.7% in the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider's stock worth $564,000 after buying an additional 6,580 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a report on Thursday, February 13th. Hsbc Global Res raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. Bank of America raised shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target on the stock in a report on Thursday, April 10th. Scotiabank boosted their price target on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, HSBC raised shares of Brookfield Asset Management from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Brookfield Asset Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.15.

Brookfield Asset Management Stock Up 0.0%

Brookfield Asset Management stock traded up $0.03 during midday trading on Thursday, reaching $56.62. The stock had a trading volume of 1,762,759 shares, compared to its average volume of 1,439,641. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The firm's 50-day moving average price is $52.85 and its 200 day moving average price is $54.38. The firm has a market capitalization of $91.30 billion, a PE ratio of 42.89, a P/E/G ratio of 1.92 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.29 billion. Equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management's dividend payout ratio is presently 124.11%.

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.