Mn Services Vermogensbeheer B.V. Sells 6,200 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Mn Services Vermogensbeheer B.V. cut its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,700 shares of the financial services provider’s stock after selling 6,200 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Brookfield Asset Management were worth $6,486,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Cerity Partners LLC purchased a new stake in shares of Brookfield Asset Management during the fourth quarter valued at $261,000. Sather Financial Group Inc boosted its position in Brookfield Asset Management by 1.1% in the fourth quarter. Sather Financial Group Inc now owns 419,156 shares of the financial services provider’s stock worth $16,837,000 after purchasing an additional 4,589 shares during the last quarter. Lester Murray Antman dba SimplyRich purchased a new position in Brookfield Asset Management in the fourth quarter worth about $237,000. Hemington Wealth Management purchased a new position in Brookfield Asset Management in the fourth quarter worth about $211,000. Finally, International Assets Investment Management LLC purchased a new position in Brookfield Asset Management in the fourth quarter worth about $4,160,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BAM shares. Deutsche Bank Aktiengesellschaft raised Brookfield Asset Management from a “hold” rating to a “buy” rating and raised their target price for the stock from $33.00 to $45.00 in a research report on Monday, December 18th. HSBC downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. BMO Capital Markets raised their price objective on Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, February 8th. CIBC raised their price objective on Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, Royal Bank of Canada raised their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.20.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $38.54 on Tuesday. Brookfield Asset Management Ltd. has a 1 year low of $28.35 and a 1 year high of $43.00. The stock’s 50 day simple moving average is $41.10 and its two-hundred day simple moving average is $37.42. The company has a market cap of $15.92 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 1.52 and a beta of 1.68.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $1.13 billion for the quarter. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. During the same period in the previous year, the firm earned $0.31 EPS. As a group, analysts anticipate that Brookfield Asset Management Ltd. will post 1.49 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were issued a $0.38 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, February 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.94%. Brookfield Asset Management’s payout ratio is 134.51%.

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.