FORA Capital LLC Sells 15,020 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

FORA Capital LLC reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 32.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,968 shares of the financial services provider’s stock after selling 15,020 shares during the period. FORA Capital LLC’s holdings in Brookfield Asset Management were worth $1,512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BAM. Advisors Asset Management Inc. boosted its position in shares of Brookfield Asset Management by 23.0% in the 1st quarter. Advisors Asset Management Inc. now owns 9,001 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 1,681 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Brookfield Asset Management by 28.3% in the 1st quarter. Janus Henderson Group PLC now owns 81,103 shares of the financial services provider’s stock worth $3,408,000 after purchasing an additional 17,895 shares during the last quarter. Ancora Advisors LLC boosted its position in shares of Brookfield Asset Management by 6.5% in the 1st quarter. Ancora Advisors LLC now owns 23,399 shares of the financial services provider’s stock worth $983,000 after purchasing an additional 1,437 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Brookfield Asset Management by 797.2% in the 1st quarter. Cetera Investment Advisers now owns 74,791 shares of the financial services provider’s stock worth $3,145,000 after purchasing an additional 66,455 shares during the last quarter. Finally, Cetera Advisors LLC bought a new position in Brookfield Asset Management during the first quarter worth about $209,000. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BAM shares. The Goldman Sachs Group boosted their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Wells Fargo & Company boosted their target price on Brookfield Asset Management from $48.00 to $51.00 and gave the company an “underweight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada boosted their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. TD Securities boosted their target price on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $53.46.

Brookfield Asset Management Stock Performance

BAM opened at $57.26 on Thursday. Brookfield Asset Management Ltd. has a 52-week low of $33.45 and a 52-week high of $58.53. The firm has a market capitalization of $25.36 billion, a PE ratio of 50.67, a PEG ratio of 2.31 and a beta of 1.42. The business’s 50-day simple moving average is $51.84 and its 200 day simple moving average is $44.33.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. On average, research analysts forecast that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.65%. Brookfield Asset Management’s payout ratio is presently 134.51%.

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.