Burgundy Asset Management Ltd. Sells 46,914 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Burgundy Asset Management Ltd. lessened its stake in Brookfield Asset Management Ltd. (NYSE:BAMFree Report) (TSE:BAM.A) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,668,649 shares of the financial services provider’s stock after selling 46,914 shares during the quarter. Burgundy Asset Management Ltd. owned 0.40% of Brookfield Asset Management worth $67,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Bfsg LLC bought a new stake in shares of Brookfield Asset Management in the 4th quarter worth $51,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Brookfield Asset Management by 39.6% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock worth $59,000 after buying an additional 500 shares in the last quarter. Anchor Investment Management LLC bought a new stake in Brookfield Asset Management in the 4th quarter worth about $119,000. EverSource Wealth Advisors LLC raised its position in Brookfield Asset Management by 87.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,680 shares of the financial services provider’s stock worth $148,000 after buying an additional 1,720 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new position in Brookfield Asset Management during the 4th quarter valued at about $202,000. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 0.7 %

NYSE:BAM traded up $0.27 on Wednesday, reaching $39.35. 477,436 shares of the company’s stock traded hands, compared to its average volume of 1,440,675. The stock has a 50-day simple moving average of $39.88 and a 200-day simple moving average of $39.45. Brookfield Asset Management Ltd. has a 12 month low of $28.35 and a 12 month high of $43.00. The firm has a market cap of $17.39 billion, a PE ratio of 36.19, a P/E/G ratio of 1.77 and a beta of 1.67.

Brookfield Asset Management (NYSE:BAMGet Free Report) (TSE:BAM.A) last issued its earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The company had revenue of $884.00 million for the quarter. On average, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a dividend of $0.38 per share. The ex-dividend date is Friday, May 31st. This represents a $1.52 annualized dividend and a yield of 3.86%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 140.74%.

Analysts Set New Price Targets

BAM has been the subject of several research reports. BMO Capital Markets boosted their price objective on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Royal Bank of Canada increased their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Scotiabank cut their price objective on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. started coverage on Brookfield Asset Management in a research report on Wednesday, May 15th. They set a “neutral” rating and a $41.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and an average price target of $42.14.

View Our Latest Report on Brookfield Asset Management

Brookfield Asset Management Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Brookfield Asset Management (NYSE:BAM)

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