Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by QV Investors Inc.

QV Investors Inc. cut its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 25.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 414,765 shares of the financial services provider’s stock after selling 140,546 shares during the quarter. Brookfield Asset Management comprises about 2.3% of QV Investors Inc.’s investment portfolio, making the stock its 15th largest position. QV Investors Inc. owned approximately 0.09% of Brookfield Asset Management worth $22,483,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its stake in shares of Brookfield Asset Management by 19.5% during the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after buying an additional 2,205,040 shares during the last quarter. Bank of Montreal Can increased its holdings in Brookfield Asset Management by 0.5% during the 3rd quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock valued at $435,729,000 after acquiring an additional 43,134 shares in the last quarter. Principal Financial Group Inc. raised its position in Brookfield Asset Management by 0.3% during the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after acquiring an additional 24,409 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Brookfield Asset Management by 68.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after purchasing an additional 2,788,611 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after purchasing an additional 370,383 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. TD Securities upped their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Scotiabank raised their price target on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $54.46.

Brookfield Asset Management Price Performance

BAM stock traded down $0.47 during midday trading on Monday, reaching $51.60. 585,902 shares of the company’s stock traded hands, compared to its average volume of 990,017. Brookfield Asset Management Ltd. has a fifty-two week low of $37.19 and a fifty-two week high of $59.58. The business has a 50-day moving average price of $56.02 and a two-hundred day moving average price of $48.18. The company has a market capitalization of $22.86 billion, a P/E ratio of 45.66, a PEG ratio of 2.43 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business posted $0.35 EPS. As a group, research analysts forecast that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.95%. Brookfield Asset Management’s payout ratio is currently 134.51%.

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.