Wellington Management Group LLP Lowers Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Wellington Management Group LLP trimmed its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 331,317 shares of the financial services provider’s stock after selling 18,951 shares during the period. Wellington Management Group LLP owned 0.07% of Brookfield Asset Management worth $17,955,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Jefferies Financial Group lowered their target price on Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday. BMO Capital Markets increased their price objective on shares of 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. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Monday. Wells Fargo & Company decreased their target price on shares of Brookfield Asset Management from $50.00 to $48.00 and set an “underweight” rating on the stock in a research report on Tuesday. Finally, UBS Group assumed coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating for the company. Three analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $57.75.

Brookfield Asset Management Stock Down 1.6 %

Shares of Brookfield Asset Management stock opened at $42.86 on Wednesday. The stock’s fifty day moving average is $52.84 and its two-hundred day moving average is $53.62. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The company has a market capitalization of $70.18 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly 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 net margin of 54.47% and a return on equity of 81.16%. As a group, research 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 declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a $0.4375 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 4.08%. Brookfield Asset Management’s payout ratio is presently 132.58%.

Brookfield Asset Management Company 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.