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

Skba Capital Management LLC reduced its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 140,300 shares of the financial services provider’s stock after selling 3,100 shares during the quarter. Skba Capital Management LLC’s holdings in Brookfield Asset Management were worth $7,603,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Brookfield Asset Management by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after acquiring an additional 263,660 shares during the period. TD Asset Management Inc. lifted its holdings in Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock valued at $903,323,000 after acquiring an additional 1,359,126 shares during the period. Principal Financial Group Inc. boosted its position in shares of Brookfield Asset Management by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock worth $483,963,000 after purchasing an additional 62,908 shares in the last quarter. Norges Bank acquired a new position in shares of Brookfield Asset Management during the 4th quarter worth $287,361,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Brookfield Asset Management by 103.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock valued at $216,507,000 after purchasing an additional 2,031,995 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $48.48 on Monday. The company has a market capitalization of $79.37 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61. The company’s 50 day simple moving average is $54.84 and its 200 day simple moving average is $53.66.

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 earnings per share for the quarter, topping 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 expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a $0.4375 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.61%. Brookfield Asset Management’s payout ratio is 132.58%.

Analyst Upgrades and Downgrades

BAM has been the topic of several recent analyst reports. CIBC upped their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Scotiabank dropped their price objective on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Keefe, Bruyette & Woods decreased their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday, January 13th. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company decreased their price objective on shares of Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating on the stock in a research report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.38.

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.