CIBC Private Wealth Group LLC Sells 3,498 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

CIBC Private Wealth Group LLC trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 373,515 shares of the financial services provider’s stock after selling 3,498 shares during the period. CIBC Private Wealth Group LLC owned about 0.08% of Brookfield Asset Management worth $20,808,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BAM. Truvestments Capital LLC lifted its holdings in Brookfield Asset Management by 487.2% in the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after buying an additional 419 shares during the period. Mountain Hill Investment Partners Corp. purchased a new stake in Brookfield Asset Management in the fourth quarter worth $32,000. Versant Capital Management Inc boosted its holdings 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 valued at $44,000 after acquiring an additional 771 shares in the last quarter. Continuum Advisory LLC increased its position 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 valued at $52,000 after purchasing an additional 329 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Brookfield Asset Management by 35.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 319 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $48.44 on Tuesday. The company has a market capitalization of $79.31 billion, a price-to-earnings ratio of 36.70, a price-to-earnings-growth 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 50-day moving average is $54.70 and its 200 day moving average is $53.68.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, research analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were paid a $0.4375 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.61%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is currently 132.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. 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 research note on Thursday, February 13th. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. CIBC increased their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. TD Securities lifted their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Finally, BMO Capital Markets increased their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and an average target price of $56.38.

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.