Private Management Group Inc. Decreases Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Private Management Group Inc. lowered its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 67,415 shares of the financial services provider’s stock after selling 1,383 shares during the quarter. Private Management Group Inc.’s holdings in Brookfield Asset Management were worth $3,653,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Hara Capital LLC purchased a new position in Brookfield Asset Management in the 3rd quarter worth approximately $27,000. RPg Family Wealth Advisory LLC purchased a new position in Brookfield Asset Management in the 3rd quarter worth approximately $27,000. Versant Capital Management Inc boosted its holdings 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 worth $44,000 after acquiring an additional 771 shares during the period. Continuum Advisory LLC boosted 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 during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings 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 period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.2 %

Shares of Brookfield Asset Management stock opened at $57.85 on Friday. The stock has a 50-day moving average price of $56.45 and a 200 day moving average price of $50.37. The company has a market cap of $25.64 billion, a P/E ratio of 51.20, a P/E/G ratio of 2.26 and a beta of 1.46. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced 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. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business earned $0.35 EPS. On average, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. TD Securities upped their price target on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company decreased their price target on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. UBS Group started coverage on Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating on the stock. Scotiabank upped their price target on Brookfield Asset Management from $59.50 to $63.00 and gave the company a “sector outperform” rating in a research report on Monday. Finally, StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Brookfield Asset Management presently has a consensus rating of “Hold” and a consensus price target of $56.42.

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.