Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 22.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,114,114 shares of the financial services provider’s stock after selling 619,853 shares during the period. The Manufacturers Life Insurance Company’s holdings in Brookfield Asset Management were worth $114,715,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its stake in Brookfield Asset Management by 2.3% in the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock valued at $1,064,983,000 after acquiring an additional 447,642 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Brookfield Asset Management by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after buying an additional 263,660 shares during the period. TD Asset Management Inc. lifted its stake in shares of Brookfield Asset Management by 8.9% during the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after buying an additional 1,359,126 shares during the period. Capital International Investors lifted its stake in shares of Brookfield Asset Management by 0.7% during the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock worth $873,354,000 after buying an additional 116,008 shares during the period. Finally, FIL Ltd lifted its stake in shares of Brookfield Asset Management by 3.9% during the fourth quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock worth $833,581,000 after buying an additional 574,978 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BAM has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Brookfield Asset Management from $62.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Wells Fargo & Company decreased their target price on shares of Brookfield Asset Management from $50.00 to $48.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods decreased 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 report on Monday, January 13th. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. Finally, Bank of America upgraded shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.15.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $53.30 on Tuesday. The firm’s fifty day moving average price is $50.04 and its 200 day moving average price is $53.80. 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 cap of $87.27 billion, a price-to-earnings ratio of 40.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating 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%. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is 132.58%.

Brookfield Asset Management Company 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.