Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC decreased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 26.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,973 shares of the financial services provider’s stock after selling 700 shares during the quarter. Wolverine Asset Management LLC’s holdings in Brookfield Asset Management were worth $107,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hara Capital LLC acquired a new stake in shares of Brookfield Asset Management during the 3rd quarter worth approximately $27,000. RPg Family Wealth Advisory LLC acquired a new stake in Brookfield Asset Management in the 3rd quarter valued at $27,000. Versant Capital Management Inc grew its stake in Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 771 shares during the period. Continuum Advisory LLC grew its stake in Brookfield Asset Management by 42.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 329 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in Brookfield Asset Management by 35.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 319 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 0.8 %

NYSE BAM opened at $58.08 on Tuesday. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The business’s fifty day simple moving average is $56.66 and its 200-day simple moving average is $52.00. The firm has a market cap of $25.74 billion, a PE ratio of 44.00, a P/E/G ratio of 2.19 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Research analysts expect that Brookfield Asset Management Ltd. will post 1.71 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is currently 132.58%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BAM shares. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Wells Fargo & Company dropped their price target on shares of Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a research note on Thursday, February 13th. TD Securities lifted their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods dropped their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. Finally, UBS Group began coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.71.

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.