Cooke & Bieler LP Sells 65,000 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Cooke & Bieler LP reduced its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,184,286 shares of the financial services provider's stock after selling 65,000 shares during the quarter. Cooke & Bieler LP owned about 0.53% of Brookfield Asset Management worth $87,743,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its position in Brookfield Asset Management by 30,651.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 31,097,454 shares of the financial services provider's stock worth $891,564,000 after buying an additional 30,996,329 shares in the last quarter. Norges Bank acquired a new stake in Brookfield Asset Management during the fourth quarter worth about $152,180,000. Goldman Sachs Group Inc. grew its position in Brookfield Asset Management by 166.2% during the first quarter. Goldman Sachs Group Inc. now owns 7,051,145 shares of the financial services provider's stock worth $398,883,000 after buying an additional 4,402,115 shares in the last quarter. Bank of America Corp DE boosted its holdings in Brookfield Asset Management by 160.5% during the first quarter. Bank of America Corp DE now owns 3,268,982 shares of the financial services provider's stock valued at $106,961,000 after purchasing an additional 2,013,890 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Brookfield Asset Management by 44.6% during the fourth quarter. Mackenzie Financial Corp now owns 6,341,977 shares of the financial services provider's stock valued at $254,842,000 after purchasing an additional 1,955,842 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock traded down $0.10 on Friday, reaching $38.32. The company's stock had a trading volume of 1,847,641 shares, compared to its average volume of 1,319,708. The company has a market cap of $15.83 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 1.48 and a beta of 1.68. The business's fifty day moving average price is $40.99 and its 200 day moving average price is $37.61. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $43.00.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. The company had revenue of $1.13 billion for the quarter. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. During the same period in the prior year, the firm posted $0.31 EPS. As a group, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.49 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.32. Brookfield Asset Management's dividend payout ratio is 134.51%.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of recent research reports. Royal Bank of Canada lifted their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the company an "outperform" rating in a report on Thursday, February 8th. CIBC lifted their price objective on Brookfield Asset Management from $40.00 to $47.00 and gave the company an "outperform" rating in a report on Monday, January 29th. Scotiabank lifted their price objective on Brookfield Asset Management from $46.50 to $47.00 and gave the company a "sector outperform" rating in a report on Thursday, February 8th. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $34.00 to $36.00 and gave the company a "market perform" rating in a report on Thursday, February 8th. Finally, TD Securities decreased their price objective on Brookfield Asset Management from $52.00 to $49.00 and set an "action list buy" rating on the stock in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $42.20.

Brookfield Asset Management Company 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.