Ervin Investment Management LLC Reduces Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Ervin Investment Management LLC reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,852 shares of the financial services provider’s stock after selling 1,909 shares during the quarter. Brookfield Asset Management makes up approximately 1.3% of Ervin Investment Management LLC’s investment portfolio, making the stock its 17th largest position. Ervin Investment Management LLC’s holdings in Brookfield Asset Management were worth $1,889,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP acquired a new position in shares of Brookfield Asset Management in the 2nd quarter valued at $42,160,000. Renaissance Technologies LLC lifted its stake in Brookfield Asset Management by 114.9% during the 2nd quarter. Renaissance Technologies LLC now owns 308,400 shares of the financial services provider’s stock worth $11,735,000 after acquiring an additional 164,900 shares in the last quarter. Mutual of America Capital Management LLC acquired a new position in Brookfield Asset Management during the 2nd quarter worth about $1,737,000. Vanguard Personalized Indexing Management LLC lifted its stake in Brookfield Asset Management by 24.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,027 shares of the financial services provider’s stock worth $661,000 after acquiring an additional 3,489 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Brookfield Asset Management during the 2nd quarter worth about $240,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company decreased their target price on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. The Goldman Sachs Group increased their target price 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. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Finally, UBS Group began coverage on Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $54.38.

Brookfield Asset Management Stock Performance

BAM opened at $55.56 on Monday. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $59.58. The company has a market cap of $24.62 billion, a P/E ratio of 49.17, a PEG ratio of 1.75 and a beta of 1.45. The business’s 50-day simple moving average is $55.82 and its 200-day simple moving average is $48.67.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same quarter last year, the business posted $0.35 EPS. As a group, analysts predict that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.74%. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

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.