First Manhattan CO. LLC. reduced its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,238,866 shares of the financial services provider's stock after selling 51,374 shares during the period. First Manhattan CO. LLC. owned approximately 0.28% of Brookfield Asset Management worth $67,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of BAM. Norges Bank purchased a new position in Brookfield Asset Management during the fourth quarter valued at $287,361,000. William Blair Investment Management LLC purchased a new position in Brookfield Asset Management during the fourth quarter valued at $204,169,000. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 valued at $216,507,000 after purchasing an additional 2,031,995 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in Brookfield Asset Management during the fourth quarter valued at about $94,122,000. Finally, TD Asset Management Inc. raised its holdings in Brookfield Asset Management by 8.9% during the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock valued at $903,323,000 after acquiring an additional 1,359,126 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.
Brookfield Asset Management Stock Performance
Shares of NYSE BAM traded up $1.18 during mid-day trading on Monday, hitting $57.52. The stock had a trading volume of 2,292,395 shares, compared to its average volume of 1,374,708. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The firm has a market cap of $94.18 billion, a PE ratio of 43.58, a PEG ratio of 1.92 and a beta of 1.56. The company has a 50 day moving average of $49.67 and a two-hundred day moving average of $54.07.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.
Brookfield Asset Management Dividend Announcement
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 issued a $0.4375 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a yield of 3.04%. Brookfield Asset Management's payout ratio is 124.11%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on BAM shares. StockNews.com raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. BMO Capital Markets lifted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a report on Thursday, February 13th. Jefferies Financial Group reduced their target price on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Scotiabank boosted their price objective on Brookfield Asset Management from $58.00 to $59.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, TD Securities boosted their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $58.77.
Check Out Our Latest Stock Analysis on BAM
Brookfield Asset Management Company Profile
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Free Report)
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.
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