Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC lowered its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 234,360 shares of the financial services provider’s stock after selling 6,220 shares during the quarter. Horizon Kinetics Asset Management LLC owned approximately 0.05% of Brookfield Asset Management worth $12,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its holdings in shares of Brookfield Asset Management by 0.5% in 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 during the period. Principal Financial Group Inc. increased its holdings in shares of Brookfield Asset Management by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock valued at $483,963,000 after acquiring an additional 62,908 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Brookfield Asset Management by 103.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock valued at $216,507,000 after acquiring an additional 2,031,995 shares during the period. Douglass Winthrop Advisors LLC increased its holdings in shares of Brookfield Asset Management by 3.9% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock valued at $126,287,000 after acquiring an additional 99,020 shares during the period. Finally, Madison Investment Advisors LLC acquired a new position in shares of Brookfield Asset Management in the 4th quarter valued at $94,122,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $46.89 on Monday. The firm has a market capitalization of $20.78 billion, a P/E ratio of 35.52, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The company’s fifty day moving average is $55.73 and its two-hundred day moving average is $53.07.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.4375 per share. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s payout ratio is presently 132.58%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BAM. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Scotiabank cut their target price on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a report on Thursday, February 13th. UBS Group initiated coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating on the stock. BMO Capital Markets lifted their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. Finally, Hsbc Global Res upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and a consensus target price of $56.71.

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.