Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Gold Investment Management Ltd.

Gold Investment Management Ltd. cut its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,907 shares of the financial services provider’s stock after selling 909 shares during the period. Gold Investment Management Ltd.’s holdings in Brookfield Asset Management were worth $2,181,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BAM. Beutel Goodman & Co Ltd. boosted its stake in Brookfield Asset Management by 114.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock valued at $279,387,000 after purchasing an additional 3,695,774 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Brookfield Asset Management by 17.1% in the 4th quarter. Wells Fargo & Company MN now owns 692,801 shares of the financial services provider’s stock valued at $27,842,000 after purchasing an additional 100,997 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Brookfield Asset Management by 42.4% during the 4th quarter. Hsbc Holdings PLC now owns 628,945 shares of the financial services provider’s stock worth $25,265,000 after acquiring an additional 187,250 shares during the period. Asset Management One Co. Ltd. boosted its holdings in Brookfield Asset Management by 127.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 62,914 shares of the financial services provider’s stock worth $2,537,000 after buying an additional 35,300 shares during the last quarter. Finally, Partners Value Investments L.P. boosted its stake in Brookfield Asset Management by 0.9% during the 4th quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock worth $1,237,556,000 after acquiring an additional 280,098 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Up 3.2 %

BAM stock traded up $1.20 during trading on Wednesday, hitting $39.08. 696,234 shares of the company’s stock traded hands, compared to its average volume of 1,395,905. The firm has a market capitalization of $17.34 billion, a P/E ratio of 36.19, a PEG ratio of 1.72 and a beta of 1.62. The business has a fifty day simple moving average of $38.93 and a two-hundred day simple moving average of $39.80. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. The business had revenue of $884.00 million during the quarter. On average, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Friday, May 31st. Brookfield Asset Management’s dividend payout ratio is presently 140.74%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BAM. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday. JPMorgan Chase & Co. started coverage on Brookfield Asset Management in a research note on Wednesday, May 15th. They set a “neutral” rating and a $41.00 target price for the company. Scotiabank dropped their price target on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a research note on Thursday, May 9th. Finally, Royal Bank of Canada boosted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $42.14.

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.