Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC lowered its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 26.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,973 shares of the financial services provider’s stock after selling 700 shares during the quarter. Wolverine Asset Management LLC’s holdings in Brookfield Asset Management were worth $107,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Hara Capital LLC acquired a new position in Brookfield Asset Management in the third quarter valued at about $27,000. RPg Family Wealth Advisory LLC acquired a new position in Brookfield Asset Management in the third quarter valued at about $27,000. Versant Capital Management Inc lifted its position in shares of Brookfield Asset Management by 1,606.3% during the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 771 shares in the last quarter. Continuum Advisory LLC lifted its position in shares of Brookfield Asset Management by 42.2% during the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 329 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Brookfield Asset Management by 35.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 319 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BAM. CIBC increased their price target on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. TD Securities increased their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday, January 13th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $56.71.

Brookfield Asset Management Stock Performance

BAM stock opened at $58.08 on Tuesday. The firm has a market capitalization of $25.74 billion, a price-to-earnings ratio of 44.00, a PEG ratio of 2.19 and a beta of 1.46. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The company’s 50 day moving average price is $56.66 and its 200 day moving average price is $52.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Equities analysts forecast that Brookfield Asset Management Ltd. will post 1.71 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a $0.4375 dividend. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a yield of 3.01%. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio is currently 132.58%.

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.