Cibc World Market Inc. Sells 444,155 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Cibc World Market Inc. cut its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 12.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,184,957 shares of the financial services provider’s stock after selling 444,155 shares during the quarter. Cibc World Market Inc.’s holdings in Brookfield Asset Management were worth $172,593,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BAM. Connor Clark & Lunn Investment Management Ltd. grew 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 worth $92,896,000 after acquiring an additional 784,250 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in Brookfield Asset Management in the third quarter valued at about $19,075,000. CIBC Asset Management Inc grew its position in Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after acquiring an additional 370,383 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Brookfield Asset Management in the third quarter valued at about $14,216,000. Finally, Bamco Inc. NY grew its position in Brookfield Asset Management by 31.5% in the third quarter. Bamco Inc. NY now owns 1,100,435 shares of the financial services provider’s stock valued at $52,040,000 after acquiring an additional 263,532 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Trading Down 1.0 %

NYSE BAM opened at $60.73 on Friday. The business’s 50 day moving average is $56.22 and its two-hundred day moving average is $49.76. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The stock has a market capitalization of $26.91 billion, a price-to-earnings ratio of 53.74, a PEG ratio of 2.15 and a beta of 1.45.

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

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.50%. Brookfield Asset Management’s payout ratio is 134.51%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. The Goldman Sachs Group upped their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. UBS Group initiated coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating for the company. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company dropped their price target on shares of Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Finally, TD Securities upped their price target on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Brookfield Asset Management has a consensus rating of “Hold” and a consensus price target of $56.13.

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.