Kathleen S. Wright Associates Inc. Decreases Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Kathleen S. Wright Associates Inc. lessened its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,470 shares of the financial services provider’s stock after selling 1,277 shares during the period. Kathleen S. Wright Associates Inc.’s holdings in Brookfield Asset Management were worth $1,184,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BAM. Private Trust Co. NA boosted its holdings in shares of Brookfield Asset Management by 180.4% during the 3rd quarter. Private Trust Co. NA now owns 1,057 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 680 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Brookfield Asset Management by 35.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,057 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 277 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Brookfield Asset Management by 106.4% during the 3rd quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 764 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Brookfield Asset Management by 39.6% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 500 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Brookfield Asset Management by 21.9% during the 3rd quarter. Rhumbline Advisers now owns 1,844 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 331 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BAM shares. TD Securities lowered their price target on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a report on Tuesday, January 9th. CIBC increased their price target on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, January 29th. BMO Capital Markets increased their price target on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Royal Bank of Canada increased their price target on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Finally, HSBC downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.20.

Brookfield Asset Management Stock Down 0.3 %

Brookfield Asset Management stock traded down $0.10 during midday trading on Friday, reaching $38.32. The stock had a trading volume of 1,847,641 shares, compared to its average volume of 1,319,708. The firm has a market cap of $15.83 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 1.48 and a beta of 1.68. The company has a fifty day moving average of $40.99 and a 200 day moving average of $37.52. Brookfield Asset Management Ltd. has a 52-week low of $28.35 and a 52-week high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $1.13 billion for the quarter. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. During the same period last year, the business posted $0.31 earnings per share. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.49 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were given a dividend of $0.38 per share. The ex-dividend date was Wednesday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.97%. Brookfield Asset Management’s dividend payout ratio (DPR) is 134.51%.

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.