Baird Financial Group Inc. Sells 3,304 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Baird Financial Group Inc. lessened its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 9.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,419 shares of the financial services provider’s stock after selling 3,304 shares during the period. Baird Financial Group Inc.’s holdings in Brookfield Asset Management were worth $1,703,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Truvestments Capital LLC raised its stake in Brookfield Asset Management by 487.2% during the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after buying an additional 419 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new position in Brookfield Asset Management during the fourth quarter worth $32,000. NewEdge Advisors LLC raised its stake in Brookfield Asset Management by 61.0% during the fourth 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 fourth quarter worth $54,000. Finally, Redwood Park Advisors LLC bought a new position in Brookfield Asset Management during the fourth quarter worth $64,000. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 2.1%

Brookfield Asset Management stock opened at $57.52 on Tuesday. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The firm has a 50 day moving average price of $49.74 and a 200-day moving average price of $54.10. The company has a market capitalization of $94.18 billion, a P/E ratio of 43.58, a P/E/G ratio of 1.92 and a beta of 1.56.

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 for the quarter, meeting analysts’ consensus estimates of $0.40. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Equities analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Friday, May 30th. Brookfield Asset Management’s payout ratio is currently 124.11%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BAM. 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 report on Thursday, April 10th. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Tuesday, April 15th. HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Scotiabank upped their price objective on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Finally, Hsbc Global Res upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Moderate Buy” and an average price target of $58.77.

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.