Russell Investments Group Ltd. Has $5.51 Million Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Russell Investments Group Ltd. lessened its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 12.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 136,433 shares of the financial services provider's stock after selling 19,919 shares during the period. Russell Investments Group Ltd.'s holdings in Brookfield Asset Management were worth $5,507,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC raised its position in Brookfield Asset Management by 106.4% in the 3rd quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 764 shares during the last quarter. Bfsg LLC purchased a new position in shares of Brookfield Asset Management in the 4th quarter valued at approximately $51,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Brookfield Asset Management by 39.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 500 shares during the period. Anchor Investment Management LLC acquired a new stake in shares of Brookfield Asset Management during the fourth quarter worth $119,000. Finally, NBC Securities Inc. purchased a new position in Brookfield Asset Management in the 3rd quarter valued at $195,000. Hedge funds and other institutional investors own 68.41% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on BAM. CIBC raised their target price on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, January 29th. Scotiabank reduced their price target on Brookfield Asset Management from $47.00 to $44.50 and set a "sector outperform" rating for the company in a report on Thursday. Royal Bank of Canada upped their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an "outperform" rating in a report on Monday, April 29th. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the stock a "market perform" rating in a research report on Thursday, February 8th. Finally, HSBC downgraded shares of Brookfield Asset Management from a "buy" rating to a "hold" rating in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.25.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock traded down $0.25 during midday trading on Friday, reaching $39.75. 2,089,141 shares of the company were exchanged, compared to its average volume of 1,482,099. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $43.00. The company has a market capitalization of $16.42 billion, a price-to-earnings ratio of 35.48, a P/E/G ratio of 1.51 and a beta of 1.73. The firm's 50-day simple moving average is $40.57 and its 200-day simple moving average is $38.22.

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

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.52 annualized dividend and a yield of 3.82%. Brookfield Asset Management's dividend payout ratio is presently 134.51%.

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.