Brookfield Asset Management Ltd. (NYSE:BAM) Holdings Decreased by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. cut its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 40.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,653,004 shares of the financial services provider’s stock after selling 1,769,336 shares during the quarter. Beutel Goodman & Co Ltd. owned 0.60% of Brookfield Asset Management worth $143,810,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Brookfield Asset Management by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after buying an additional 263,660 shares during the last quarter. TD Asset Management Inc. raised its stake in Brookfield Asset Management by 8.9% during the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after acquiring an additional 1,359,126 shares during the period. Principal Financial Group Inc. lifted its holdings in Brookfield Asset Management by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock worth $483,963,000 after acquiring an additional 62,908 shares during the last quarter. Norges Bank acquired a new position in Brookfield Asset Management in the fourth quarter valued at approximately $287,361,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Brookfield Asset Management by 103.4% during the fourth 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 purchasing an additional 2,031,995 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. CIBC boosted their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. BMO Capital Markets boosted their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, March 20th. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company dropped their price target on shares of 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.38.

Brookfield Asset Management Trading Down 3.8 %

Shares of Brookfield Asset Management stock opened at $48.48 on Friday. 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 $79.37 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50. The company’s 50-day moving average price is $54.84 and its two-hundred day moving average price is $53.52.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping 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%. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, February 28th. 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 3.61%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 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.