Brookfield Asset Management Ltd. (NYSE:BAM) Position Cut by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. trimmed its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 97.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 32,536 shares of the financial services provider’s stock after selling 1,489,587 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in Brookfield Asset Management were worth $1,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC grew its holdings in Brookfield Asset Management by 2.3% in the 4th quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock worth $1,064,983,000 after buying an additional 447,642 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Brookfield Asset Management by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after buying an additional 263,660 shares in the last quarter. TD Asset Management Inc. raised its stake in shares of Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after buying an additional 1,359,126 shares in the last quarter. Capital International Investors lifted its holdings in shares of Brookfield Asset Management by 0.7% in the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock valued at $873,354,000 after buying an additional 116,008 shares during the period. Finally, FIL Ltd lifted its holdings in shares of Brookfield Asset Management by 3.9% in the fourth quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock valued at $833,581,000 after buying an additional 574,978 shares during the period. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $57.22 on Friday. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The stock has a fifty day moving average of $51.52 and a 200-day moving average of $54.37. The company has a market capitalization of $92.27 billion, a PE ratio of 43.35, a price-to-earnings-growth ratio of 1.92 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. As a group, research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 124.11%.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of research analyst reports. Wall Street Zen raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. lifted their target price on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. CIBC lifted their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Morgan Stanley lifted their target price on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an “equal weight” rating in a report on Friday, May 16th. Finally, BMO Capital Markets lifted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.08.

Brookfield Asset Management Company 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.