Nicola Wealth Management LTD. Lowers Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Nicola Wealth Management LTD. lowered its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 18.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 218,658 shares of the financial services provider’s stock after selling 49,700 shares during the period. Nicola Wealth Management LTD.’s holdings in Brookfield Asset Management were worth $11,849,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Tandem Capital Management Corp ADV boosted its holdings in Brookfield Asset Management by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock valued at $2,119,000 after acquiring an additional 175 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in 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 valued at $2,201,000 after acquiring an additional 188 shares during the last quarter. Procyon Advisors LLC boosted its holdings in Brookfield Asset Management by 2.7% in the fourth quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock valued at $505,000 after acquiring an additional 249 shares during the last quarter. Pathstone Holdings LLC boosted its holdings in Brookfield Asset Management by 1.0% in the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after acquiring an additional 278 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Brookfield Asset Management by 35.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $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.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $55.41 on Tuesday. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The business’s 50-day simple moving average is $56.80 and its 200 day simple moving average is $52.57. The stock has a market cap of $24.55 billion, a price-to-earnings ratio of 41.98, a price-to-earnings-growth ratio of 1.92 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released 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 81.16% and a net margin of 54.47%. On average, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a $0.4375 dividend. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management’s payout ratio is currently 132.58%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BAM. BMO Capital Markets lifted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Keefe, Bruyette & Woods reduced their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. UBS Group initiated coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating on the stock. TD Securities boosted their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Finally, The Goldman Sachs Group boosted their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.71.

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.