Brookfield Asset Management Ltd. (NYSE:BAM) Holdings Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in Brookfield Asset Management Ltd. (NYSE:BAM – Get Rating) (TSE:BAM.A) by 4.7% in the third quarter, Holdings Channel reports. The institutional investor owned 123,058 shares of the financial services provider’s stock after selling 6,110 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Brookfield Asset Management were worth $5,031,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BAM. American Century Companies Inc. lifted its position in Brookfield Asset Management by 0.7% in the 1st quarter. American Century Companies Inc. now owns 38,228 shares of the financial services provider’s stock worth $2,161,000 after buying an additional 268 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Brookfield Asset Management by 3.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 537,451 shares of the financial services provider’s stock worth $30,404,000 after buying an additional 20,309 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Brookfield Asset Management in the 1st quarter worth approximately $22,369,000. Sequoia Financial Advisors LLC purchased a new stake in Brookfield Asset Management in the 1st quarter worth approximately $340,000. Finally, Vanguard Group Inc. increased its stake in shares of Brookfield Asset Management by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 44,050,716 shares of the financial services provider’s stock worth $2,491,950,000 after purchasing an additional 1,220,298 shares during the last quarter.

Wall Street Analysts Forecast Growth

BAM has been the topic of several analyst reports. TheStreet lowered shares of Brookfield Asset Management from a “b-” rating to a “c” rating in a research note on Monday, November 28th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Brookfield Asset Management from $52.00 to $44.00 and set a “hold” rating on the stock in a research note on Wednesday, October 12th. Royal Bank of Canada initiated coverage on shares of Brookfield Asset Management in a research note on Wednesday, December 21st. They set an “outperform” rating and a $35.00 price target on the stock. StockNews.com initiated coverage on shares of Brookfield Asset Management in a research note on Friday. They set a “sell” rating on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Brookfield Asset Management in a research note on Tuesday, December 13th. They set a “buy” rating and a $40.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Moderate Buy” and a consensus target price of $48.11.

Insider Buying and Selling at Brookfield Asset Management

In other Brookfield Asset Management news, insider Brookfield Asset Management In sold 2,135,176 shares of the stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $24.09, for a total value of $51,436,389.84. Following the completion of the sale, the insider now directly owns 13,281,712 shares of the company’s stock, valued at approximately $319,956,442.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Oaktree Capital Management Lp sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $9.60, for a total transaction of $9,600,000.00. Following the completion of the transaction, the insider now directly owns 6,797,000 shares of the company’s stock, valued at approximately $65,251,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brookfield Asset Management In sold 2,135,176 shares of the firm’s stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $24.09, for a total transaction of $51,436,389.84. Following the transaction, the insider now directly owns 13,281,712 shares of the company’s stock, valued at $319,956,442.08. The disclosure for this sale can be found here.

Brookfield Asset Management Trading Up 3.0 %

NYSE:BAM opened at $31.89 on Tuesday. Brookfield Asset Management Ltd. has a 1 year low of $26.76 and a 1 year high of $36.50. The firm’s fifty day simple moving average is $36.80 and its 200 day simple moving average is $42.56.

Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, November 10th. The financial services provider reported $0.24 earnings per share for the quarter. The company had revenue of $23.42 billion during the quarter. As a group, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.18 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Wednesday, November 30th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Tuesday, November 29th.

About Brookfield Asset Management

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Brookfield Asset Management Ltd. provides alternative asset management services. Its renewable power and transition business includes the ownership, operation, and development of hydroelectric, wind, solar, and energy transition power generating assets. The company's infrastructure business engages in the ownership, operation, and development of utilities, transport, midstream, data and sustainable resource assets.