Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. cut its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 314,802 shares of the financial services provider’s stock after selling 8,104 shares during the period. Addenda Capital Inc. owned approximately 0.07% of Brookfield Asset Management worth $17,059,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hara Capital LLC purchased a new position in Brookfield Asset Management during the third quarter worth approximately $27,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Brookfield Asset Management during the 3rd quarter valued at approximately $27,000. Versant Capital Management Inc grew its stake in 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 increased its holdings in 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 worth $52,000 after acquiring an additional 329 shares in the last quarter. Finally, Quent Capital LLC raised its position in Brookfield Asset Management by 62.1% during the third quarter. Quent Capital LLC now owns 1,135 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 435 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. 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 report on Tuesday, November 5th. Royal Bank of Canada increased their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. TD Securities lifted their price target on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Scotiabank increased their price objective 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 investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $54.38.

Brookfield Asset Management Stock Up 0.9 %

Shares of BAM opened at $55.56 on Tuesday. The stock has a fifty day simple moving average of $55.82 and a two-hundred day simple moving average of $48.74. The company has a market capitalization of $24.62 billion, a PE ratio of 49.17, a price-to-earnings-growth ratio of 1.75 and a beta of 1.45. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period last year, the business earned $0.35 earnings per share. As a group, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Brookfield Asset Management 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.