AGF Management Ltd. Cuts Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

AGF Management Ltd. trimmed its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 31.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 999,213 shares of the financial services provider’s stock after selling 456,604 shares during the quarter. AGF Management Ltd. owned approximately 0.23% of Brookfield Asset Management worth $54,317,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BAM. Geode Capital Management LLC raised its holdings in Brookfield Asset Management by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after buying an additional 168,170 shares during the period. Laffer Tengler Investments Inc. raised its holdings in Brookfield Asset Management by 24.2% during the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock valued at $8,008,000 after buying an additional 28,768 shares during the period. Avior Wealth Management LLC raised its holdings in Brookfield Asset Management by 2,857.1% during the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after buying an additional 10,000 shares during the period. Plato Investment Management Ltd raised its holdings in Brookfield Asset Management by 173.7% during the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock valued at $564,000 after buying an additional 6,580 shares during the period. Finally, Tacita Capital Inc raised its holdings in Brookfield Asset Management by 19.3% during the 4th quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock valued at $2,585,000 after buying an additional 7,743 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Price Performance

BAM opened at $46.88 on Tuesday. The stock’s 50 day simple moving average is $56.34 and its 200 day simple moving average is $52.93. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The stock has a market cap of $20.77 billion, a P/E ratio of 35.51, a P/E/G ratio of 1.92 and a beta of 1.50.

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

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.73%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. CIBC increased their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods lowered their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. TD Securities increased their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Finally, UBS Group initiated coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.71.

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.