Copeland Capital Management LLC Reduces Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Copeland Capital Management LLC lowered its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 6.5% in the fourth quarter, HoldingsChannel reports. The firm owned 24,637 shares of the financial services provider’s stock after selling 1,717 shares during the period. Copeland Capital Management LLC’s holdings in Brookfield Asset Management were worth $1,335,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BAM. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Brookfield Asset Management by 66.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock valued at $92,896,000 after buying an additional 784,250 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in Brookfield Asset Management during the 3rd quarter worth $19,075,000. CIBC Asset Management Inc increased its position in shares of Brookfield Asset Management by 10.3% in the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after purchasing an additional 370,383 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Brookfield Asset Management in the 3rd quarter valued at about $14,216,000. Finally, Bamco Inc. NY lifted its position in shares of Brookfield Asset Management by 31.5% during the third quarter. Bamco Inc. NY now owns 1,100,435 shares of the financial services provider’s stock worth $52,040,000 after purchasing an additional 263,532 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. BMO Capital Markets boosted their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Royal Bank of Canada upped their price target on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Wells Fargo & Company dropped their target price on shares of Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Finally, UBS Group assumed coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating for the company. Three analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Hold” and an average price target of $56.13.

Brookfield Asset Management Trading Down 1.4 %

NYSE BAM opened at $59.94 on Monday. The company has a 50-day moving average price of $56.41 and a two-hundred day moving average price of $50.02. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The stock has a market cap of $26.56 billion, a price-to-earnings ratio of 53.04, a price-to-earnings-growth ratio of 2.32 and a beta of 1.45.

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

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.