Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC reduced its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 10.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,975 shares of the financial services provider’s stock after selling 4,310 shares during the period. Cannell & Spears LLC’s holdings in Brookfield Asset Management were worth $2,004,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BAM. Truvestments Capital LLC raised its holdings in shares of Brookfield Asset Management by 487.2% during the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 419 shares during the period. Mountain Hill Investment Partners Corp. acquired a new stake in Brookfield Asset Management during the fourth quarter worth about $32,000. Versant Capital Management Inc lifted its holdings in Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 771 shares during the last quarter. Continuum Advisory LLC boosted its stake in Brookfield Asset Management by 42.2% in the third 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 holdings in shares of Brookfield Asset Management by 35.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 319 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BAM. Keefe, Bruyette & Woods cut their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th. TD Securities upped their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Hsbc Global Res upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Finally, 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight 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 company currently has an average rating of “Moderate Buy” and an average target price of $56.38.

Brookfield Asset Management Price Performance

BAM opened at $48.44 on Tuesday. The business has a 50 day moving average price of $54.70 and a two-hundred day moving average price of $53.68. The company has a market capitalization of $79.31 billion, a price-to-earnings ratio of 36.70, a price-to-earnings-growth 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.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating 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%. 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 was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.61%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.

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.