Sandy Spring Bank Has $1.14 Million Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Sandy Spring Bank lessened its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,108 shares of the financial services provider’s stock after selling 1,690 shares during the quarter. Sandy Spring Bank’s holdings in Brookfield Asset Management were worth $1,144,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Tandem Capital Management Corp ADV raised its stake in Brookfield Asset Management by 0.4% during the 4th quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock worth $2,119,000 after buying an additional 175 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Brookfield Asset Management by 0.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock valued at $2,201,000 after purchasing an additional 188 shares during the period. Gold Investment Management Ltd. raised its stake in shares of Brookfield Asset Management by 0.5% in the 4th quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider’s stock valued at $2,271,000 after purchasing an additional 219 shares during the period. Procyon Advisors LLC raised its stake in shares of Brookfield Asset Management by 2.7% in the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock valued at $505,000 after purchasing an additional 249 shares during the period. Finally, Pathstone Holdings LLC raised its stake in shares of Brookfield Asset Management by 1.0% in the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after purchasing an additional 278 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

BAM has been the topic of several recent research reports. BMO Capital Markets lifted their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. StockNews.com raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday. UBS Group began coverage on Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating on the stock. Finally, Keefe, Bruyette & Woods lowered their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management has an average rating of “Moderate Buy” and an average target price of $56.38.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $49.35 on Friday. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The stock has a market capitalization of $21.87 billion, a P/E ratio of 37.38, a PEG ratio of 1.92 and a beta of 1.50. The stock has a 50-day simple moving average of $55.23 and a 200 day simple moving average of $53.13.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share 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. Stockholders of record on Friday, February 28th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is currently 132.58%.

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.