Invesco Ltd. Reduces Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Invesco Ltd. reduced its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 12.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,385,939 shares of the financial services provider's stock after selling 199,979 shares during the period. Invesco Ltd. owned 0.31% of Brookfield Asset Management worth $75,104,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BAM. Norges Bank acquired a new position in shares of Brookfield Asset Management during the fourth quarter worth approximately $287,361,000. William Blair Investment Management LLC acquired a new position in Brookfield Asset Management in the fourth quarter valued at about $204,169,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of 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 worth $216,507,000 after buying an additional 2,031,995 shares during the period. Madison Investment Advisors LLC bought a new position in Brookfield Asset Management in the fourth quarter valued at $94,122,000. Finally, TD Asset Management Inc. increased its position in shares of 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 purchasing an additional 1,359,126 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Jefferies Financial Group dropped their price target on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Bank of America upgraded 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 research report on Thursday, April 10th. Hsbc Global Res upgraded Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. BMO Capital Markets raised their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a "market perform" rating in a research note on Thursday, February 13th. Finally, StockNews.com raised shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $57.15.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM traded up $0.57 during trading on Friday, hitting $48.56. 1,224,243 shares of the company's stock were exchanged, compared to its average volume of 1,433,174. The business's 50-day simple moving average is $51.00 and its 200 day simple moving average is $53.58. The company has a market cap of $79.51 billion, a price-to-earnings ratio of 36.79, a PEG ratio of 1.92 and a beta of 1.63. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.60%. This is a positive change 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 (DPR) is 132.58%.

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.