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

Avior Wealth Management LLC trimmed its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,950 shares of the financial services provider’s stock after selling 400 shares during the period. Avior Wealth Management LLC’s holdings in Brookfield Asset Management were worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board boosted its position in shares of Brookfield Asset Management by 0.4% in the third quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock worth $2,201,000 after acquiring an additional 188 shares during the last quarter. Procyon Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 2.7% in the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock valued at $505,000 after purchasing an additional 249 shares during the last quarter. Pathstone Holdings LLC grew its stake in shares of Brookfield Asset Management by 1.0% during the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after buying an additional 278 shares during the period. Foundations Investment Advisors LLC increased its holdings in shares of Brookfield Asset Management by 5.0% during the 3rd quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock worth $315,000 after buying an additional 315 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Brookfield Asset Management by 35.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock worth $66,000 after buying an additional 319 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. TD Securities increased their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. 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. The Goldman Sachs Group increased their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada lifted their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $54.38.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $59.88 on Friday. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $60.11. The stock has a 50-day moving average price of $55.91 and a 200 day moving average price of $49.25. The company has a market capitalization of $26.54 billion, a P/E ratio of 52.99, a P/E/G ratio of 2.15 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm earned $0.35 earnings per share. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a dividend of $0.38 per share. The ex-dividend date was Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.54%. Brookfield Asset Management’s payout ratio is 134.51%.

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.