Marks Group Wealth Management Inc Sells 909 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Marks Group Wealth Management Inc reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 170,771 shares of the financial services provider’s stock after selling 909 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Brookfield Asset Management were worth $9,254,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Brookfield Asset Management by 66.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock valued at $92,896,000 after purchasing an additional 784,250 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Brookfield Asset Management in the 3rd quarter worth about $19,075,000. CIBC Asset Management Inc increased its stake in Brookfield Asset Management by 10.3% in the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after buying an additional 370,383 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Brookfield Asset Management during the 3rd quarter worth approximately $14,216,000. Finally, Bamco Inc. NY boosted its stake in shares of Brookfield Asset Management by 31.5% in the 3rd quarter. Bamco Inc. NY now owns 1,100,435 shares of the financial services provider’s stock worth $52,040,000 after buying an additional 263,532 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BAM has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft raised their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. The Goldman Sachs Group boosted their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. BMO Capital Markets increased their price target on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada lifted their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and a consensus target price of $56.58.

Brookfield Asset Management Stock Down 3.4 %

NYSE BAM opened at $55.59 on Wednesday. The company’s 50 day moving average is $56.49 and its 200-day moving average is $50.77. The firm has a market cap of $24.63 billion, a P/E ratio of 49.19, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61.

Brookfield Asset Management Company 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.