Private Management Group Inc. Sells 53,237 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Private Management Group Inc. decreased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 32.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,186 shares of the financial services provider’s stock after selling 53,237 shares during the quarter. Private Management Group Inc.’s holdings in Brookfield Asset Management were worth $4,547,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Blue Fin Capital Inc. lifted its holdings in Brookfield Asset Management by 2.0% in the third quarter. Blue Fin Capital Inc. now owns 22,173 shares of the financial services provider’s stock valued at $739,000 after buying an additional 425 shares during the period. Procyon Advisors LLC raised its holdings in shares of Brookfield Asset Management by 5.9% during the fourth quarter. Procyon Advisors LLC now owns 8,291 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 461 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Brookfield Asset Management by 39.6% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 500 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Brookfield Asset Management by 3.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 17,372 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 545 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Brookfield Asset Management by 1.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 36,293 shares of the financial services provider’s stock valued at $1,185,000 after purchasing an additional 617 shares during the period. Institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets upped their price objective on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. Scotiabank upped their price target on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 8th. HSBC cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. TD Securities dropped their price target on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a research note on Tuesday, January 9th. Finally, CIBC upped their price target on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.20.

Brookfield Asset Management Stock Down 1.0 %

Brookfield Asset Management stock traded down $0.41 during mid-day trading on Wednesday, reaching $39.18. 931,340 shares of the company’s stock traded hands, compared to its average volume of 1,170,018. The company has a market cap of $16.19 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 1.50 and a beta of 1.68. The stock has a 50 day moving average of $40.97 and a two-hundred day moving average of $37.72. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. The firm had revenue of $1.13 billion for the quarter. During the same quarter in the previous year, the company posted $0.31 earnings per share. As a group, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.49 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were given a dividend of $0.38 per share. The ex-dividend date was Wednesday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 3.88%. 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.