Cannell & Co. Sells 6,000 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Cannell & Co. lessened its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 12.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,083 shares of the financial services provider’s stock after selling 6,000 shares during the quarter. Cannell & Co.’s holdings in Brookfield Asset Management were worth $1,650,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC boosted its position in shares of Brookfield Asset Management by 10.2% during the 3rd quarter. FMR LLC now owns 14,217,008 shares of the financial services provider’s stock worth $473,859,000 after purchasing an additional 1,313,734 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Brookfield Asset Management by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 10,402,885 shares of the financial services provider’s stock worth $346,832,000 after purchasing an additional 120,714 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Brookfield Asset Management by 5.7% during the 3rd quarter. TD Asset Management Inc now owns 8,902,390 shares of the financial services provider’s stock worth $298,019,000 after purchasing an additional 477,431 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Brookfield Asset Management by 5.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,885,165 shares of the financial services provider’s stock worth $229,551,000 after purchasing an additional 365,237 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Brookfield Asset Management by 44.6% during the 4th quarter. Mackenzie Financial Corp now owns 6,341,977 shares of the financial services provider’s stock worth $254,842,000 after purchasing an additional 1,955,842 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $38.19 on Thursday. The firm has a market cap of $15.78 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 1.47 and a beta of 1.72. Brookfield Asset Management Ltd. has a 52 week low of $28.35 and a 52 week high of $43.00. The firm has a 50-day moving average price of $40.76 and a two-hundred day moving average price of $37.94.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. The firm had revenue of $1.13 billion during the quarter. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. During the same quarter last year, the business posted $0.31 EPS. 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were paid a $0.38 dividend. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.52 annualized dividend and a yield of 3.98%. Brookfield Asset Management’s dividend payout ratio (DPR) is 134.51%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BAM shares. Scotiabank increased their price objective on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 8th. HSBC lowered shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. CIBC upped their target price on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. TD Securities lowered their target price on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a report on Tuesday, January 9th. Finally, Royal Bank of Canada upped their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

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.