Aviva PLC Sells 345,185 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Aviva PLC lowered its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM – Get Rating) (TSE:BAM.A) by 71.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 140,482 shares of the financial services provider’s stock after selling 345,185 shares during the quarter. Aviva PLC’s holdings in Brookfield Asset Management were worth $17,837,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in Brookfield Asset Management by 2.6% during the third quarter. Commonwealth Equity Services LLC now owns 249,260 shares of the financial services provider’s stock valued at $10,192,000 after acquiring an additional 6,306 shares during the last quarter. Ensign Peak Advisors Inc boosted its position in shares of Brookfield Asset Management by 10.5% during the 3rd quarter. Ensign Peak Advisors Inc now owns 68,277 shares of the financial services provider’s stock worth $3,037,000 after purchasing an additional 6,500 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Brookfield Asset Management by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,613,041 shares of the financial services provider’s stock worth $65,957,000 after purchasing an additional 13,953 shares in the last quarter. Trexquant Investment LP boosted its position in shares of Brookfield Asset Management by 74.6% during the 3rd quarter. Trexquant Investment LP now owns 68,039 shares of the financial services provider’s stock worth $2,782,000 after purchasing an additional 29,070 shares in the last quarter. Finally, ExodusPoint Capital Management LP boosted its position in shares of Brookfield Asset Management by 125.3% during the 3rd quarter. ExodusPoint Capital Management LP now owns 44,699 shares of the financial services provider’s stock worth $1,828,000 after purchasing an additional 24,862 shares in the last quarter.

Brookfield Asset Management Stock Up 0.2 %

Shares of NYSE BAM opened at $30.73 on Friday. Brookfield Asset Management Ltd. has a fifty-two week low of $26.76 and a fifty-two week high of $36.50. The firm’s 50-day simple moving average is $32.01 and its 200 day simple moving average is $34.12.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st will be paid a $0.32 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $1.28 annualized dividend and a yield of 4.17%.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods cut shares of Brookfield Asset Management to an “underperform” rating in a research report on Tuesday, April 18th. StockNews.com initiated coverage on shares of Brookfield Asset Management in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 price objective on shares of Brookfield Asset Management in a research report on Tuesday, March 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of Brookfield Asset Management from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, February 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.57.

Insider Buying and Selling at Brookfield Asset Management

In other Brookfield Asset Management news, Director Multi-Strategy Mast Brookfield sold 24,744 shares of the stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $11.96, for a total value of $295,938.24. Following the completion of the sale, the director now owns 21,104,923 shares in the company, valued at approximately $252,414,879.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 11.00% of the company’s stock.

About Brookfield Asset Management

(Get Rating)

Brookfield Asset Management Ltd. provides alternative asset management services. Its renewable power and transition business includes the ownership, operation, and development of hydroelectric, wind, solar, and energy transition power generating assets. The company's infrastructure business engages in the ownership, operation, and development of utilities, transport, midstream, data and sustainable resource assets.