Brookfield Asset Management Ltd. (NYSE:BAM) Position Lessened by Nexus Investment Management ULC

Nexus Investment Management ULC decreased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 27.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,104 shares of the financial services provider’s stock after selling 1,528 shares during the period. Nexus Investment Management ULC’s holdings in Brookfield Asset Management were worth $222,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Brookfield Asset Management by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after buying an additional 168,170 shares during the last quarter. Avior Wealth Management LLC increased its holdings in Brookfield Asset Management by 2,857.1% in the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after buying an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Brookfield Asset Management by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock valued at $39,516,000 after acquiring an additional 45,670 shares in the last quarter. LGT Capital Partners LTD. lifted its stake in Brookfield Asset Management by 11.5% in the third quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock valued at $25,273,000 after acquiring an additional 55,000 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after acquiring an additional 370,383 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Scotiabank raised their price target on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Keefe, Bruyette & Woods cut their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. TD Securities boosted their price target on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. UBS Group assumed coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating on the stock. Finally, The Goldman Sachs Group boosted their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Hold” and an average target price of $54.38.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $55.56 on Friday. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $59.58. The company has a fifty day moving average price of $55.82 and a 200 day moving average price of $48.59. The stock has a market cap of $24.62 billion, a P/E ratio of 49.17, a PEG ratio of 1.75 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.74%. Brookfield Asset Management’s dividend payout ratio is currently 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.