HB Wealth Management LLC reduced its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM – Free Report) (TSE:BAM.A) by 19.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,687 shares of the financial services provider’s stock after selling 1,100 shares during the quarter. HB Wealth Management LLC’s holdings in Brookfield Asset Management were worth $254,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hara Capital LLC bought a new position in Brookfield Asset Management in the 3rd quarter valued at $27,000. RPg Family Wealth Advisory LLC bought a new position in Brookfield Asset Management in the third quarter valued at about $27,000. Versant Capital Management Inc increased its position in Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 771 shares during the period. Continuum Advisory LLC raised 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 worth $52,000 after purchasing an additional 329 shares during the last quarter. Finally, Quent Capital LLC boosted its stake in shares of Brookfield Asset Management by 62.1% in the 3rd quarter. Quent Capital LLC now owns 1,135 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 435 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.
Brookfield Asset Management Stock Performance
Shares of Brookfield Asset Management stock opened at $59.88 on Friday. The firm has a market cap of $26.54 billion, a PE ratio of 52.99, a P/E/G ratio of 2.15 and a beta of 1.45. The business’s 50 day simple moving average is $55.83 and its 200 day simple moving average is $49.10. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $60.11.
Brookfield Asset Management Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.54%. Brookfield Asset Management’s dividend payout ratio is 134.51%.
Analysts Set New Price Targets
A number of research firms recently weighed in on BAM. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. The Goldman Sachs Group increased their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. UBS Group started coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating for the company. Wells Fargo & Company reduced their target price on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Finally, Scotiabank upped their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Brookfield Asset Management presently has a consensus rating of “Hold” and an average price target of $54.38.
View Our Latest Research Report on Brookfield Asset Management
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.
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