Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Cooke & Bieler LP

Cooke & Bieler LP reduced its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 34.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,972,211 shares of the financial services provider’s stock after selling 1,036,550 shares during the quarter. Cooke & Bieler LP’s holdings in Brookfield Asset Management were worth $106,874,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in Brookfield Asset Management by 11.6% during the 3rd 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 in the last quarter. Laffer Tengler Investments Inc. increased its holdings in Brookfield Asset Management by 24.2% in the fourth quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock worth $8,008,000 after buying an additional 28,768 shares during the last quarter. Avior Wealth Management LLC grew its holdings in Brookfield Asset Management by 2,857.1% during the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 10,000 shares during the last quarter. Plato Investment Management Ltd grew its holdings in Brookfield Asset Management by 173.7% during the fourth quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 6,580 shares during the last quarter. Finally, Tacita Capital Inc grew its holdings in Brookfield Asset Management by 19.3% during the fourth quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock valued at $2,585,000 after purchasing an additional 7,743 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Price Performance

NYSE BAM opened at $46.88 on Tuesday. The business has a 50 day simple moving average of $56.34 and a 200 day simple moving average of $52.93. The stock has a market capitalization of $20.77 billion, a P/E ratio of 35.51, a P/E/G ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61.

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

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.4375 per share. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is 132.58%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. CIBC increased their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods lowered their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company lowered their target price on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating for the company in a research note on Thursday, February 13th. UBS Group began coverage on Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating for the company. Finally, BMO Capital Markets raised their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management has an average rating of “Hold” and a consensus price target of $56.71.

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.