CIBC Private Wealth Group LLC Sells 3,498 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

CIBC Private Wealth Group LLC decreased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.9% during the fourth quarter, Holdings Channel reports. The firm owned 373,515 shares of the financial services provider’s stock after selling 3,498 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Brookfield Asset Management were worth $20,808,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Truvestments Capital LLC raised its stake in Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after buying an additional 419 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in shares of Brookfield Asset Management in the fourth quarter worth $32,000. Versant Capital Management Inc increased its position in Brookfield Asset Management by 1,606.3% during the fourth 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 boosted its position 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 worth $52,000 after purchasing an additional 329 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Brookfield Asset Management by 35.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 319 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 0.1 %

Shares of BAM opened at $48.44 on Tuesday. The business’s 50 day moving average is $54.70 and its 200 day moving average is $53.68. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The company has a market capitalization of $79.31 billion, a PE ratio of 36.70, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was 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%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BAM. UBS Group initiated coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. BMO Capital Markets lifted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. Finally, TD Securities upped their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.