CIBC Private Wealth Group LLC Has $15.17 Million Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

CIBC Private Wealth Group LLC decreased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 463,525 shares of the financial services provider’s stock after selling 14,987 shares during the period. CIBC Private Wealth Group LLC’s holdings in Brookfield Asset Management were worth $15,167,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Metis Global Partners LLC raised its holdings in Brookfield Asset Management by 9.5% during the first quarter. Metis Global Partners LLC now owns 12,284 shares of the financial services provider’s stock worth $402,000 after buying an additional 1,064 shares during the last quarter. Triasima Portfolio Management inc. purchased a new stake in shares of Brookfield Asset Management in the fourth quarter valued at about $8,578,000. Venturi Wealth Management LLC purchased a new stake in shares of Brookfield Asset Management in the first quarter valued at about $110,000. Oppenheimer Asset Management Inc. raised its holdings in shares of Brookfield Asset Management by 6.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 17,518 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 1,056 shares during the last quarter. Finally, Lakewood Asset Management LLC bought a new position in Brookfield Asset Management during the fourth quarter valued at about $166,000. Institutional investors and hedge funds own 61.92% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of Brookfield Asset Management in a research report on Thursday, July 13th. They set an “outperform” rating for the company. TD Securities increased their price target on shares of Brookfield Asset Management from $47.00 to $48.00 and gave the company an “action list buy” rating in a research report on Thursday, August 10th. StockNews.com assumed coverage on shares of Brookfield Asset Management in a research report on Thursday, August 17th. They set a “hold” rating for the company. BMO Capital Markets increased their price target on shares of Brookfield Asset Management from $33.00 to $34.00 and gave the company a “market perform” rating in a research report on Thursday, August 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Brookfield Asset Management from $34.00 to $35.00 in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Brookfield Asset Management has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Brookfield Asset Management Stock Performance

BAM stock opened at $34.58 on Thursday. The firm has a 50 day moving average of $33.12 and a 200-day moving average of $32.69. Brookfield Asset Management Ltd. has a 12 month low of $26.76 and a 12 month high of $36.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $985.00 million during the quarter. On average, analysts anticipate that Brookfield Asset Management Ltd. will post 1.32 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Wednesday, August 30th.

Brookfield Asset Management Company Profile

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.