Radnor Capital Management LLC Reduces Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Radnor Capital Management LLC lessened its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.0% in the first quarter, Holdings Channel reports. The institutional investor owned 8,478 shares of the financial services provider’s stock after selling 449 shares during the quarter. Radnor Capital Management LLC’s holdings in Brookfield Asset Management were worth $356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bfsg LLC bought a new position in Brookfield Asset Management in the 4th quarter valued at $51,000. Anchor Investment Management LLC bought a new stake in Brookfield Asset Management during the fourth quarter valued at approximately $119,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Brookfield Asset Management by 87.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,680 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 1,720 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in Brookfield Asset Management in the fourth quarter worth $202,000. Finally, Heron Bay Capital Management bought a new position in Brookfield Asset Management in the fourth quarter valued at $208,000. 68.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BAM has been the subject of several research analyst reports. JPMorgan Chase & Co. started coverage on Brookfield Asset Management in a research note on Wednesday, May 15th. They set a “neutral” rating and a $41.00 price target for the company. Scotiabank dropped their target price on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a research report on Thursday, May 9th. Finally, Royal Bank of Canada increased their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.14.

Brookfield Asset Management Stock Up 0.2 %

Shares of NYSE BAM opened at $37.96 on Monday. The firm’s fifty day moving average is $39.08 and its 200 day moving average is $39.77. Brookfield Asset Management Ltd. has a 52 week low of $28.35 and a 52 week high of $43.00. The company has a market cap of $16.79 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 1.71 and a beta of 1.68.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $884.00 million for the quarter. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. Equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Asset Management’s payout ratio is 140.74%.

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.