First Trust Advisors LP Has $2.43 Million Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

First Trust Advisors LP decreased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 16.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,894 shares of the financial services provider's stock after selling 8,953 shares during the quarter. First Trust Advisors LP's holdings in Brookfield Asset Management were worth $2,433,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BAM. Truvestments Capital LLC raised its holdings in Brookfield Asset Management by 487.2% during the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock worth $27,000 after acquiring an additional 419 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in shares of Brookfield Asset Management during the 4th quarter worth approximately $32,000. Versant Capital Management Inc boosted its holdings in shares of Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider's stock valued at $44,000 after buying an additional 771 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after buying an additional 325 shares in the last quarter. Finally, Redwood Park Advisors LLC acquired a new position in Brookfield Asset Management during the fourth quarter worth $64,000. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Trading Up 2.9 %

Shares of BAM opened at $54.79 on Monday. 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 is $49.67 and its 200-day moving average is $53.91. The stock has a market capitalization of $89.71 billion, a PE ratio of 41.51, 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 data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.19%. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date was Friday, February 28th. Brookfield Asset Management's dividend payout ratio is presently 132.58%.

Analyst Ratings Changes

BAM has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Brookfield Asset Management from $50.00 to $48.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. TD Securities reduced their price target on Brookfield Asset Management from $68.00 to $64.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Scotiabank dropped their price objective on Brookfield Asset Management from $62.50 to $58.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 7th. Jefferies Financial Group reduced their target price on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Finally, 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Brookfield Asset Management currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.00.

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.

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