Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its position in Brookfield Asset Management Ltd. (NYSE:BAM – Get Rating) (TSE:BAM.A) by 67.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,009 shares of the financial services provider’s stock after selling 201,502 shares during the period. Citigroup Inc.’s holdings in Brookfield Asset Management were worth $2,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Brookfield Asset Management by 3.2% during the third quarter. Vanguard Group Inc. now owns 46,380,575 shares of the financial services provider’s stock worth $1,896,501,000 after acquiring an additional 1,426,257 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Brookfield Asset Management by 166.2% during the first quarter. Goldman Sachs Group Inc. now owns 7,051,145 shares of the financial services provider’s stock worth $398,883,000 after buying an additional 4,402,115 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Brookfield Asset Management by 2.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,658,887 shares of the financial services provider’s stock worth $272,057,000 after buying an additional 186,790 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Brookfield Asset Management by 1.1% during the first quarter. Invesco Ltd. now owns 6,357,751 shares of the financial services provider’s stock worth $359,657,000 after buying an additional 70,087 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Brookfield Asset Management by 18.6% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,678,315 shares of the financial services provider’s stock worth $150,282,000 after buying an additional 576,076 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BAM shares. StockNews.com started coverage on shares of Brookfield Asset Management in a report on Thursday, May 18th. They set a “hold” rating for the company. Keefe, Bruyette & Woods lowered shares of Brookfield Asset Management to an “underperform” rating in a report on Tuesday, April 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 target price on shares of Brookfield Asset Management in a report on Tuesday, March 28th. Finally, JPMorgan Chase & Co. upped 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.57.

Insiders Place Their Bets

In other Brookfield Asset Management news, Director Multi-Strategy Mast Brookfield sold 24,744 shares of the stock in a transaction dated Tuesday, March 28th. The shares were 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 owns 21,104,923 shares of the company’s stock, valued at $252,414,879.08. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Brookfield Asset Management Stock Up 0.1 %

Shares of BAM stock opened at $31.63 on Wednesday. The company has a 50-day moving average of $32.03 and a two-hundred day moving average of $34.17. 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 business also recently announced 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. This represents a $1.28 annualized dividend and a yield of 4.05%. The ex-dividend date is Tuesday, May 30th.

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.