Schwartz Investment Counsel Inc. Decreases Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Schwartz Investment Counsel Inc. trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 34.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 237,275 shares of the financial services provider’s stock after selling 124,353 shares during the period. Schwartz Investment Counsel Inc.’s holdings in Brookfield Asset Management were worth $12,858,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Brookfield Asset Management by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after acquiring an additional 168,170 shares during the period. Avior Wealth Management LLC grew its stake in shares of Brookfield Asset Management by 2,857.1% in the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Brookfield Asset Management by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock valued at $39,516,000 after purchasing an additional 45,670 shares during the period. LGT Capital Partners LTD. raised its position in Brookfield Asset Management by 11.5% during the 3rd quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock valued at $25,273,000 after purchasing an additional 55,000 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Brookfield Asset Management by 10.3% in the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after buying an additional 370,383 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on BAM. CIBC upped their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Royal Bank of Canada boosted their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. UBS Group initiated coverage on Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company lowered their price objective on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $56.58.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $55.59 on Wednesday. The company has a market capitalization of $24.63 billion, a price-to-earnings ratio of 49.19, a PEG ratio of 2.18 and a beta of 1.46. The stock has a 50-day moving average of $56.49 and a 200 day moving average of $50.77. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61.

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.