Heritage Wealth Advisors Reduces Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Heritage Wealth Advisors reduced its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 32.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,673 shares of the financial services provider’s stock after selling 3,180 shares during the quarter. Heritage Wealth Advisors’ holdings in Brookfield Asset Management were worth $362,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC raised its stake in shares of Brookfield Asset Management by 487.2% in the fourth 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. RPg Family Wealth Advisory LLC bought a new stake in Brookfield Asset Management during the 3rd quarter worth approximately $27,000. Mountain Hill Investment Partners Corp. bought a new stake in Brookfield Asset Management during the 4th quarter worth approximately $32,000. Versant Capital Management Inc lifted its holdings in Brookfield Asset Management by 1,606.3% during the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 771 shares in the last quarter. Finally, Continuum Advisory LLC boosted its position in shares of Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 329 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. CIBC lifted their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Scotiabank lowered their price objective on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. BMO Capital Markets upped their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Wells Fargo & Company decreased their target price on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating on the stock in a research note on Thursday, March 20th. Finally, UBS Group began coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Moderate Buy” and a consensus target price of $56.38.

Brookfield Asset Management Trading Up 0.6 %

Shares of NYSE BAM opened at $51.74 on Wednesday. The stock has a market capitalization of $22.93 billion, a price-to-earnings ratio of 39.20, a P/E/G ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The firm’s 50-day moving average price is $55.15 and its 200-day moving average price is $53.51.

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

Brookfield Asset Management Increases Dividend

The company also recently disclosed 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 boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.38%. Brookfield Asset Management’s payout ratio is 132.58%.

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.