Horizon Kinetics Asset Management LLC Decreases Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Horizon Kinetics Asset Management LLC cut its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 234,360 shares of the financial services provider’s stock after selling 6,220 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Brookfield Asset Management were worth $12,700,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Tandem Capital Management Corp ADV raised its stake in Brookfield Asset Management by 0.4% in the 4th quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock valued at $2,119,000 after purchasing an additional 175 shares during the last quarter. Public Sector Pension Investment Board raised its stake in Brookfield Asset Management by 0.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock valued at $2,201,000 after purchasing an additional 188 shares during the last quarter. Gold Investment Management Ltd. raised its stake in Brookfield Asset Management by 0.5% in the 4th quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider’s stock valued at $2,271,000 after purchasing an additional 219 shares during the last quarter. Procyon Advisors LLC raised its stake in Brookfield Asset Management by 2.7% in the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock valued at $505,000 after purchasing an additional 249 shares during the last quarter. Finally, Pathstone Holdings LLC raised its stake in Brookfield Asset Management by 1.0% in the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after purchasing an additional 278 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on BAM. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. CIBC boosted their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. UBS Group initiated coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating for the company. Wells Fargo & Company dropped their price objective on shares of Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating for the company in a research note on Thursday, February 13th. Finally, Scotiabank dropped their price objective on shares of 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. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.71.

Brookfield Asset Management Stock Performance

BAM opened at $46.89 on Monday. The firm has a 50 day moving average price of $55.73 and a 200 day moving average price of $53.07. The company has a market cap of $20.78 billion, a PE ratio of 35.52, 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 posted its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is 132.58%.

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.