Russell Investments Group Ltd. Sells 38,673 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Russell Investments Group Ltd. trimmed its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 20.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 146,509 shares of the financial services provider’s stock after selling 38,673 shares during the quarter. Russell Investments Group Ltd.’s holdings in Brookfield Asset Management were worth $7,942,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Brookfield Asset Management during the 4th quarter worth $287,361,000. William Blair Investment Management LLC purchased a new position in Brookfield Asset Management during the fourth quarter valued at $204,169,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Brookfield Asset Management by 103.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock valued at $216,507,000 after purchasing an additional 2,031,995 shares during the period. Madison Investment Advisors LLC purchased a new stake in Brookfield Asset Management in the fourth quarter worth about $94,122,000. Finally, TD Asset Management Inc. raised its stake in shares of Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after buying an additional 1,359,126 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BAM has been the subject of a number of recent research reports. CIBC boosted their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Jefferies Financial Group reduced their price objective on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, April 8th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Monday, April 7th. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and an average target price of $57.75.

Brookfield Asset Management Stock Up 2.8 %

Shares of Brookfield Asset Management stock opened at $47.35 on Friday. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The business has a 50-day moving average price of $51.89 and a 200-day moving average price of $53.58. The firm has a market cap of $77.52 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results 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%. On average, 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. Investors of record on Friday, February 28th were given a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.70%. The ex-dividend date was Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is currently 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.