Confluence Investment Management LLC Sells 3,454 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Confluence Investment Management LLC trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,418 shares of the financial services provider’s stock after selling 3,454 shares during the period. Confluence Investment Management LLC’s holdings in Brookfield Asset Management were worth $4,629,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Brookfield Asset Management during the third quarter valued at approximately $209,000. Morse Asset Management Inc purchased a new position in Brookfield Asset Management during the 3rd quarter valued at $176,000. Toronto Dominion Bank raised its holdings in Brookfield Asset Management by 7.7% in the 3rd quarter. Toronto Dominion Bank now owns 1,056,919 shares of the financial services provider’s stock worth $49,982,000 after purchasing an additional 75,963 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Brookfield Asset Management by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after purchasing an additional 168,170 shares during the period. Finally, Continuum Advisory LLC boosted its stake in shares of Brookfield Asset Management by 42.2% during 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 in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock opened at $54.34 on Friday. Brookfield Asset Management Ltd. has a 1 year low of $37.19 and a 1 year high of $59.58. The firm’s 50-day moving average is $55.86 and its 200 day moving average is $47.36. The stock has a market cap of $24.08 billion, a price-to-earnings ratio of 48.09, a PEG ratio of 2.43 and a beta of 1.41.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same quarter in the prior year, the firm posted $0.35 earnings per share. On average, equities analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.80%. Brookfield Asset Management’s dividend payout ratio is 134.51%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. UBS Group assumed coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating for the company. Keefe, Bruyette & Woods increased their target price on Brookfield Asset Management from $49.00 to $57.00 and gave the stock an “underperform” rating in a research report on Friday, December 20th. TD Securities lifted their price target on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Royal Bank of Canada increased their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company raised their price objective on Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and a consensus target price of $54.54.

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.