Steward Partners Investment Advisory LLC Sells 3,144 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Steward Partners Investment Advisory LLC trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,844 shares of the financial services provider’s stock after selling 3,144 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Brookfield Asset Management were worth $5,356,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in Brookfield Asset Management by 66.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock valued at $92,896,000 after buying an additional 784,250 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in Brookfield Asset Management in the 3rd quarter valued at about $19,075,000. CIBC Asset Management Inc boosted its position in 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 valued at $188,057,000 after buying an additional 370,383 shares during the period. Proficio Capital Partners LLC boosted its position in Brookfield Asset Management by 5,331.6% in the 4th quarter. Proficio Capital Partners LLC now owns 351,205 shares of the financial services provider’s stock valued at $19,032,000 after buying an additional 344,739 shares during the period. Finally, Bamco Inc. NY boosted its position in Brookfield Asset Management by 31.5% in the 3rd quarter. Bamco Inc. NY now owns 1,100,435 shares of the financial services provider’s stock valued at $52,040,000 after buying an additional 263,532 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Down 6.8 %

NYSE:BAM opened at $50.28 on Friday. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The firm has a 50 day moving average of $56.61 and a 200 day moving average of $52.65. The stock has a market capitalization of $22.28 billion, a price-to-earnings ratio of 38.09, a PEG ratio of 1.92 and a beta of 1.46.

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

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.4375 per share. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.48%. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.

Analyst Ratings Changes

BAM has been the subject of several research reports. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. UBS Group started coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating for the company. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. The Goldman Sachs Group upped their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.71.

About Brookfield Asset Management

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.