Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM – Get Rating) (TSE:BAM.A) by 73.7% during the 4th quarter, Holdings Channel reports. The fund owned 142,399 shares of the financial services provider’s stock after selling 398,588 shares during the quarter. HighTower Advisors LLC’s holdings in Brookfield Asset Management were worth $4,028,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BAM. American Century Companies Inc. raised its holdings in shares of Brookfield Asset Management by 0.7% during the 1st quarter. American Century Companies Inc. now owns 38,228 shares of the financial services provider’s stock worth $2,161,000 after acquiring an additional 268 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Brookfield Asset Management by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 537,451 shares of the financial services provider’s stock worth $30,404,000 after acquiring an additional 20,309 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Brookfield Asset Management in the 1st quarter valued at about $22,369,000. Sequoia Financial Advisors LLC purchased a new stake in Brookfield Asset Management in the 1st quarter valued at about $340,000. Finally, Vanguard Group Inc. raised its holdings in Brookfield Asset Management by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 44,050,716 shares of the financial services provider’s stock valued at $2,491,950,000 after buying an additional 1,220,298 shares during the period.

Insiders Place Their Bets

In other news, Director Multi-Strategy Mast Brookfield sold 24,744 shares of the business’s stock in a transaction dated Tuesday, March 28th. The stock was sold at an average price of $11.96, for a total transaction of $295,938.24. Following the completion of the transaction, the director now directly owns 21,104,923 shares of the company’s stock, valued at $252,414,879.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 11.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BAM shares. StockNews.com started coverage on shares of Brookfield Asset Management in a report on Thursday. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods lowered shares of Brookfield Asset Management to an “underperform” rating in a report on Tuesday, April 18th. JPMorgan Chase & Co. boosted their price objective on shares of Brookfield Asset Management from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, February 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $40.00 price objective on shares of Brookfield Asset Management in a report on Tuesday, March 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.57.

Brookfield Asset Management Trading Up 0.0 %

Shares of NYSE:BAM opened at $31.20 on Friday. The firm’s 50-day moving average is $32.02 and its two-hundred day moving average is $34.31. Brookfield Asset Management Ltd. has a 1 year low of $26.76 and a 1 year high of $36.50.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st will be paid a dividend of $0.32 per share. The ex-dividend date is Tuesday, May 30th. This represents a $1.28 dividend on an annualized basis and a yield of 4.10%.

Brookfield Asset Management Company Profile

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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.