LGT Capital Partners LTD. Sells 72,000 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

LGT Capital Partners LTD. lessened its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 13.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 462,000 shares of the financial services provider’s stock after selling 72,000 shares during the period. LGT Capital Partners LTD. owned approximately 0.10% of Brookfield Asset Management worth $25,047,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BAM. US Bancorp DE lifted its position in shares of Brookfield Asset Management by 5.2% during the 3rd quarter. US Bancorp DE now owns 15,004 shares of the financial services provider’s stock worth $710,000 after purchasing an additional 736 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Brookfield Asset Management by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after purchasing an additional 24,409 shares during the last quarter. Fiera Capital Corp lifted its position in shares of Brookfield Asset Management by 75.7% during the 3rd quarter. Fiera Capital Corp now owns 69,358 shares of the financial services provider’s stock worth $3,282,000 after purchasing an additional 29,882 shares during the last quarter. Bridges Investment Management Inc. acquired a new position in shares of Brookfield Asset Management during the 3rd quarter worth about $373,000. Finally, Round Rock Advisors LLC acquired a new position in shares of Brookfield Asset Management during the 3rd quarter worth about $244,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

BAM has been the subject of several research analyst reports. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. TD Securities upped their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a report on Monday, February 10th. Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. CIBC upped their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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 investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Trading Down 3.1 %

BAM stock opened at $48.75 on Friday. 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 $21.60 billion, a P/E ratio of 36.93, a P/E/G ratio of 1.92 and a beta of 1.50. The business’s 50 day moving average is $56.50 and its 200-day moving average is $52.79.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating 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%. Sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared 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. The ex-dividend date is Friday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a yield of 3.59%. Brookfield Asset Management’s dividend payout ratio is 132.58%.

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.