Heritage Wealth Advisors Reduces Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Heritage Wealth Advisors lowered its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 32.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,673 shares of the financial services provider’s stock after selling 3,180 shares during the quarter. Heritage Wealth Advisors’ holdings in Brookfield Asset Management were worth $362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of BAM. Mufg Securities Canada LTD. raised its position in shares of Brookfield Asset Management by 71.7% in the 4th quarter. Mufg Securities Canada LTD. now owns 568,179 shares of the financial services provider’s stock worth $30,795,000 after acquiring an additional 237,323 shares in the last quarter. Summitry LLC raised its holdings in Brookfield Asset Management by 1.6% in the fourth quarter. Summitry LLC now owns 127,022 shares of the financial services provider’s stock worth $6,883,000 after purchasing an additional 1,961 shares in the last quarter. TD Asset Management Inc. boosted its holdings in shares of Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock valued at $903,323,000 after buying an additional 1,359,126 shares in the last quarter. Templeton & Phillips Capital Management LLC bought a new stake in shares of Brookfield Asset Management during the 4th quarter valued at $1,797,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in shares of Brookfield Asset Management in the 4th quarter worth about $32,000. 68.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BAM has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. UBS Group began coverage on Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating on the stock. BMO Capital Markets raised their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. TD Securities boosted their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Finally, Scotiabank reduced their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

Brookfield Asset Management Stock Up 0.6 %

Shares of BAM stock opened at $51.74 on Wednesday. The company has a 50 day moving average price of $55.15 and a 200-day moving average price of $53.51. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The firm has a market capitalization of $22.93 billion, a PE ratio of 39.20, a P/E/G ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is 132.58%.

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.