Ervin Investment Management LLC Lowers Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Ervin Investment Management LLC reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,852 shares of the financial services provider’s stock after selling 1,909 shares during the quarter. Brookfield Asset Management accounts for 1.3% of Ervin Investment Management LLC’s investment portfolio, making the stock its 17th biggest holding. Ervin Investment Management LLC’s holdings in Brookfield Asset Management were worth $1,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of BAM. Hara Capital LLC purchased a new position in shares of Brookfield Asset Management in the 3rd quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Brookfield Asset Management in the 3rd quarter valued at approximately $27,000. Versant Capital Management Inc grew its stake in shares of Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 771 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of Brookfield Asset Management by 42.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 329 shares during the last quarter. Finally, Quent Capital LLC grew its stake in shares of Brookfield Asset Management by 62.1% in the 3rd quarter. Quent Capital LLC now owns 1,135 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 435 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $55.56 on Monday. The stock has a fifty day moving average price of $55.82 and a 200 day moving average price of $48.67. The stock has a market cap of $24.62 billion, a PE ratio of 49.17, a P/E/G ratio of 1.75 and a beta of 1.45. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results 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. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same quarter last year, the business posted $0.35 earnings per share. As a group, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.74%. The ex-dividend date was Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

Analysts Set New Price Targets

Several research firms have recently commented on BAM. Deutsche Bank Aktiengesellschaft raised their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. Royal Bank of Canada raised their price target on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. TD Securities raised their price target on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group raised their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Scotiabank raised their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $54.38.

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.