Brookfield Asset Management Ltd. (NYSE:BAM) Stock Position Decreased by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. lowered its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 22.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 519,006 shares of the financial services provider’s stock after selling 153,028 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Brookfield Asset Management were worth $28,134,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Bank of Montreal Can increased its position in Brookfield Asset Management by 0.5% in the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock worth $435,729,000 after buying an additional 43,134 shares during the period. Principal Financial Group Inc. grew its position in Brookfield Asset Management by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after purchasing an additional 24,409 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after purchasing an additional 370,383 shares during the period. Douglass Winthrop Advisors LLC boosted its position in shares of Brookfield Asset Management by 3.9% during the third quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock worth $126,287,000 after buying an additional 99,020 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Brookfield Asset Management by 66.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after buying an additional 784,250 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Trading Up 2.8 %

NYSE BAM opened at $61.02 on Wednesday. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $61.26. The company has a market cap of $27.04 billion, a PE ratio of 54.00, a PEG ratio of 2.15 and a beta of 1.45. The stock’s 50-day moving average price is $56.09 and its two-hundred day moving average price is $49.68.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business earned $0.35 earnings per share. Research analysts forecast that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a $0.38 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.49%. Brookfield Asset Management’s payout ratio is currently 134.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BAM shares. UBS Group started coverage on Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating for the company. Scotiabank increased their price objective on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Deutsche Bank Aktiengesellschaft increased their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company dropped their price objective on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $54.38.

Brookfield Asset Management Profile

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.