CIBC Asset Management Inc Cuts Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

CIBC Asset Management Inc decreased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 26.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,902,312 shares of the financial services provider’s stock after selling 1,051,184 shares during the period. CIBC Asset Management Inc owned approximately 0.65% of Brookfield Asset Management worth $158,514,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hara Capital LLC acquired a new position in shares of Brookfield Asset Management during the 3rd quarter valued at about $27,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Brookfield Asset Management during the 3rd quarter worth approximately $27,000. Versant Capital Management Inc raised its position in shares of Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after buying an additional 771 shares during the period. Continuum Advisory LLC grew its position in Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 329 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Brookfield Asset Management by 35.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on BAM shares. The Goldman Sachs Group increased their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. BMO Capital Markets lifted their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday. Keefe, Bruyette & Woods lowered their target price on shares of 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. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and a consensus target price of $56.71.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $59.86 on Monday. The stock’s 50 day moving average price is $56.45 and its 200 day moving average price is $51.17. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The company has a market cap of $26.53 billion, a PE ratio of 52.98, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46.

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 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. On average, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 134.51%.

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.