Invesco Ltd. Sells 199,979 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Invesco Ltd. reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 12.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,385,939 shares of the financial services provider’s stock after selling 199,979 shares during the period. Invesco Ltd.’s holdings in Brookfield Asset Management were worth $75,104,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BAM. Bank of Montreal Can boosted its position in Brookfield Asset Management by 3.7% in the fourth quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider’s stock valued at $518,655,000 after buying an additional 339,072 shares in the last quarter. FMR LLC increased its holdings in shares of Brookfield Asset Management by 2.3% during the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock worth $1,064,983,000 after buying an additional 447,642 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Brookfield Asset Management in the 4th quarter valued at $1,491,000. Wells Fargo & Company MN boosted its holdings in shares of Brookfield Asset Management by 7.2% during the 4th quarter. Wells Fargo & Company MN now owns 650,628 shares of the financial services provider’s stock valued at $35,268,000 after acquiring an additional 43,484 shares in the last quarter. Finally, Cinctive Capital Management LP bought a new stake in Brookfield Asset Management during the 4th quarter worth $1,025,000. 68.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BAM has been the subject of several research reports. Bank of America upgraded Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Thursday, April 10th. BMO Capital Markets lifted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. TD Securities lifted their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Finally, UBS Group assumed coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and an average price target of $57.15.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock opened at $48.31 on Tuesday. The business has a 50-day simple moving average of $51.70 and a 200 day simple moving average of $53.63. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The firm has a market capitalization of $79.10 billion, a price-to-earnings ratio of 36.60, a PEG ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data 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 return on equity of 81.16% and a net margin of 54.47%. On average, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a dividend of $0.4375 per share. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.62%. Brookfield Asset Management’s dividend payout ratio is presently 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.