Motley Fool Wealth Management LLC Sells 27,604 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Motley Fool Wealth Management LLC trimmed its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 8.5% in the fourth quarter, Holdings Channel reports. The firm owned 297,202 shares of the financial services provider’s stock after selling 27,604 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Brookfield Asset Management were worth $16,017,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BAM. Tandem Capital Management Corp ADV boosted its position in shares of Brookfield Asset Management by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock valued at $2,119,000 after acquiring an additional 175 shares during the period. Public Sector Pension Investment Board increased its position in Brookfield Asset Management by 0.4% during the third quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock worth $2,201,000 after acquiring an additional 188 shares during the period. Gold Investment Management Ltd. raised its stake in Brookfield Asset Management by 0.5% in the 4th quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider’s stock worth $2,271,000 after purchasing an additional 219 shares in the last quarter. Procyon Advisors LLC boosted its holdings in Brookfield Asset Management by 2.7% in the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock valued at $505,000 after purchasing an additional 249 shares during the period. Finally, Pathstone Holdings LLC grew its position in shares of Brookfield Asset Management by 1.0% during the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock worth $1,379,000 after purchasing an additional 278 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.6 %

Shares of Brookfield Asset Management stock opened at $51.74 on Wednesday. The firm’s 50 day moving average is $55.15 and its 200 day moving average is $53.51. The firm has a market capitalization of $22.93 billion, a PE ratio of 39.20, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61.

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, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BAM. HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods reduced their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. CIBC raised their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Scotiabank cut their price objective on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.38.

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.