Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC lowered its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 18.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 210,500 shares of the financial services provider’s stock after selling 48,854 shares during the period. Motley Fool Asset Management LLC’s holdings in Brookfield Asset Management were worth $11,407,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Brookfield Asset Management by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after purchasing an additional 24,409 shares during the last quarter. Cerity Partners LLC increased its position in Brookfield Asset Management by 25.6% during the third quarter. Cerity Partners LLC now owns 25,996 shares of the financial services provider’s stock worth $1,229,000 after buying an additional 5,298 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Brookfield Asset Management by 0.4% in the third quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock worth $2,201,000 after acquiring an additional 188 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Brookfield Asset Management in the third quarter valued at $391,000. Finally, Benjamin Edwards Inc. acquired a new stake in shares of Brookfield Asset Management during the third quarter valued at $602,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

NYSE BAM opened at $50.77 on Thursday. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The firm has a market capitalization of $83.13 billion, a P/E ratio of 38.46, a P/E/G ratio of 1.92 and a beta of 1.62. The business’s 50-day simple moving average is $54.43 and its 200-day simple moving average is $53.70.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly 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 net margin of 54.47% and a return on equity of 81.16%. On average, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.45%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Asset Management’s dividend payout ratio is 132.58%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. TD Securities upped their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Scotiabank lowered their target price on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research note on Thursday, February 13th. CIBC increased their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, UBS Group began coverage on Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $56.38.

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.