Axa S.A. Sells 15,827 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Axa S.A. lowered its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 42.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,149 shares of the financial services provider’s stock after selling 15,827 shares during the period. Axa S.A.’s holdings in Brookfield Asset Management were worth $1,146,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC increased its holdings in shares of Brookfield Asset Management by 487.2% in the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 419 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in Brookfield Asset Management in the 4th quarter worth about $32,000. NewEdge Advisors LLC raised its position in Brookfield Asset Management by 61.0% in the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock worth $47,000 after buying an additional 325 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in Brookfield Asset Management during the 4th quarter valued at about $54,000. Finally, Redwood Park Advisors LLC purchased a new stake in shares of Brookfield Asset Management during the 4th quarter valued at about $64,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price objective on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley dropped their price target on Brookfield Asset Management from $62.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. increased their target price on Brookfield Asset Management from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday. Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Finally, Bank of America upgraded shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Moderate Buy” and a consensus target price of $58.77.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $56.35 on Friday. The company has a fifty day moving average of $49.67 and a 200 day moving average of $54.03. The company has a market capitalization of $92.26 billion, a P/E ratio of 42.69, a P/E/G ratio of 1.92 and a beta of 1.56. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Friday, May 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 124.11%.

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.