Skba Capital Management LLC Lowers Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Skba Capital Management LLC trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,300 shares of the financial services provider’s stock after selling 3,100 shares during the quarter. Skba Capital Management LLC’s holdings in Brookfield Asset Management were worth $7,603,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BAM. Truvestments Capital LLC increased its position in Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 419 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Brookfield Asset Management in the fourth quarter worth $32,000. Versant Capital Management Inc raised its stake in shares of Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 771 shares during the period. Continuum Advisory LLC raised its stake in shares of Brookfield Asset Management by 42.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 329 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Brookfield Asset Management by 35.1% during 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 purchasing an additional 319 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAM has been the topic of several research reports. 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. Wells Fargo & Company dropped their target price on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating on the stock in a report on Thursday, March 20th. TD Securities increased their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods reduced their target price 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. Finally, UBS Group began coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $48.48 on Monday. The firm has a market cap of $79.37 billion, a P/E ratio of 36.72, a P/E/G ratio of 1.92 and a beta of 1.50. The firm has a fifty day moving average of $54.84 and a two-hundred day moving average of $53.66. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping 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 business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, February 28th. 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 dividend yield of 3.61%. 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.