Brookfield Asset Management Ltd. (NYSE:BAM) Stock Position Decreased by Private Management Group Inc.

Private Management Group Inc. cut its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.0% in the fourth quarter, Holdings Channel reports. The firm owned 67,415 shares of the financial services provider’s stock after selling 1,383 shares during the period. Private Management Group Inc.’s holdings in Brookfield Asset Management were worth $3,653,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hara Capital LLC purchased a new stake in shares of Brookfield Asset Management during the 3rd quarter worth about $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Brookfield Asset Management during the 3rd quarter valued at about $27,000. Versant Capital Management Inc increased its holdings in shares of Brookfield Asset Management by 1,606.3% during 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 last quarter. Continuum Advisory LLC increased its holdings in shares of Brookfield Asset Management by 42.2% during 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 last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Brookfield Asset Management by 35.1% during 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 last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on BAM. Keefe, Bruyette & Woods lowered their price objective 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. The Goldman Sachs Group increased their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. UBS Group began coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company lowered their target price on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.42.

Brookfield Asset Management Trading Up 0.2 %

Shares of NYSE:BAM opened at $57.85 on Friday. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The firm has a market capitalization of $25.64 billion, a PE ratio of 51.20, a PEG ratio of 2.26 and a beta of 1.46. The business’s 50 day moving average is $56.45 and its 200-day moving average is $50.37.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm earned $0.35 EPS. On average, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

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.