Marks Group Wealth Management Inc Sells 909 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Marks Group Wealth Management Inc trimmed its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 170,771 shares of the financial services provider’s stock after selling 909 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Brookfield Asset Management were worth $9,254,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of BAM. Geode Capital Management LLC raised its position in shares of Brookfield Asset Management by 11.6% in the third 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 in the last quarter. Avior Wealth Management LLC increased its stake in Brookfield Asset Management by 2,857.1% during the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after acquiring an additional 10,000 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Brookfield Asset Management by 5.8% in the 3rd 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 position in shares of Brookfield Asset Management by 11.5% during the 3rd 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 period. Finally, CIBC Asset Management Inc grew its holdings in shares of Brookfield Asset Management by 10.3% during the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after purchasing an additional 370,383 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on BAM. BMO Capital Markets boosted their price target on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Scotiabank boosted their target price on shares of Brookfield Asset Management from $59.50 to $63.00 and gave the company a “sector outperform” rating in a research report on Monday, February 3rd. Royal Bank of Canada upped their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. UBS Group assumed coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. Finally, TD Securities upped their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.58.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $55.59 on Wednesday. The company has a 50-day moving average price of $56.49 and a 200-day moving average price of $50.77. The stock has a market capitalization of $24.63 billion, a P/E ratio of 49.19, a P/E/G ratio of 2.18 and a beta of 1.46. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61.

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.