Steward Partners Investment Advisory LLC Reduces Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Steward Partners Investment Advisory LLC lessened its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,844 shares of the financial services provider’s stock after selling 3,144 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Brookfield Asset Management were worth $5,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of BAM. Tacita Capital Inc lifted its stake in shares of Brookfield Asset Management by 19.3% during the 4th quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock valued at $2,585,000 after buying an additional 7,743 shares in the last quarter. Plato Investment Management Ltd lifted its stake in shares of Brookfield Asset Management by 173.7% during the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock valued at $564,000 after buying an additional 6,580 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Brookfield Asset Management during the 4th quarter valued at $177,000. Jones Financial Companies Lllp lifted its stake in shares of Brookfield Asset Management by 91.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,477 shares of the financial services provider’s stock valued at $134,000 after buying an additional 1,182 shares in the last quarter. Finally, Bridges Investment Management Inc. lifted its stake in shares of Brookfield Asset Management by 57.9% during the 4th quarter. Bridges Investment Management Inc. now owns 12,439 shares of the financial services provider’s stock valued at $674,000 after buying an additional 4,560 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BAM shares. BMO Capital Markets lifted 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 note on Thursday, February 13th. HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. UBS Group assumed coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. Finally, StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Stock Down 6.8 %

Brookfield Asset Management stock opened at $50.28 on Friday. The company’s 50-day moving average price is $56.61 and its 200-day moving average price is $52.65. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The company has a market cap of $22.28 billion, a PE ratio of 38.09, a price-to-earnings-growth ratio of 1.92 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, sell-side 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 will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.48%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio is presently 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.