Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,893 shares of the financial services provider’s stock after selling 295 shares during the period. Alliancebernstein L.P.’s holdings in Brookfield Asset Management were worth $1,295,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. O Shaughnessy Asset Management LLC raised its stake in shares of Brookfield Asset Management by 64.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 171,206 shares of the financial services provider’s stock valued at $9,274,000 after acquiring an additional 67,073 shares during the period. Summit Securities Group LLC acquired a new position in shares of Brookfield Asset Management during the fourth quarter worth about $152,000. Schroder Investment Management Group purchased a new stake in shares of Brookfield Asset Management in the fourth quarter worth about $8,927,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Brookfield Asset Management in the fourth quarter worth about $18,785,000. Finally, Allianz SE acquired a new stake in shares of Brookfield Asset Management in the fourth quarter valued at about $401,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BAM. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Scotiabank cut their price target 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. Bank of America upgraded Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Thursday, April 10th. Morgan Stanley cut their target price on Brookfield Asset Management from $62.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Finally, Wells Fargo & Company decreased 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 report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.15.

Brookfield Asset Management Price Performance

BAM opened at $48.56 on Friday. The stock’s 50 day moving average price is $51.00 and its 200 day moving average price is $53.58. The stock has a market cap of $79.51 billion, a P/E ratio of 36.79, a P/E/G ratio of 1.92 and a beta of 1.63. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates 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 analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company 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 is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.60%. Brookfield Asset Management’s payout ratio is presently 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.