Brookfield Asset Management Ltd. $BAM Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lowered its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,466,570 shares of the financial services provider’s stock after selling 60,098 shares during the quarter. Brookfield Asset Management makes up about 1.0% of DAVENPORT & Co LLC’s holdings, making the stock its 21st biggest position. DAVENPORT & Co LLC owned about 0.21% of Brookfield Asset Management worth $182,099,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Manchester Capital Management LLC grew its position in shares of Brookfield Asset Management by 559.5% in the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 442 shares during the period. Sagard Holdings Management Inc. purchased a new stake in Brookfield Asset Management in the second quarter valued at approximately $39,000. Assetmark Inc. increased its position in Brookfield Asset Management by 95.9% during the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 395 shares during the last quarter. Cary Street Partners Financial LLC increased its position in Brookfield Asset Management by 227.5% during the third quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 562 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Brookfield Asset Management by 93.3% during the third quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 401 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 1.1%

Shares of Brookfield Asset Management stock opened at $42.87 on Wednesday. The stock has a market capitalization of $70.22 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 1.54 and a beta of 1.42. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05. The business’s 50 day simple moving average is $48.71 and its 200-day simple moving average is $52.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a $0.5025 dividend. This represents a $2.01 annualized dividend and a yield of 4.7%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, February 27th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.24%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank Of Canada set a $74.00 target price on Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Monday, December 15th. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. UBS Group set a $52.00 price objective on Brookfield Asset Management in a report on Friday, February 20th. Loop Capital set a $60.00 price objective on Brookfield Asset Management in a research note on Tuesday, January 6th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Brookfield Asset Management in a research report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.65.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.