Lipe & Dalton Trims Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Lipe & Dalton trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,623 shares of the financial services provider’s stock after selling 300 shares during the period. Lipe & Dalton’s holdings in Brookfield Asset Management were worth $2,034,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BAM. Moneta Group Investment Advisors LLC lifted its holdings in shares of Brookfield Asset Management by 30,651.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 31,097,454 shares of the financial services provider’s stock worth $891,564,000 after acquiring an additional 30,996,329 shares during the period. Norges Bank purchased a new position in shares of Brookfield Asset Management during the 4th quarter worth about $152,180,000. Goldman Sachs Group Inc. lifted its holdings in shares of Brookfield Asset Management by 166.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,051,145 shares of the financial services provider’s stock worth $398,883,000 after acquiring an additional 4,402,115 shares during the period. Bank of America Corp DE lifted its holdings in shares of Brookfield Asset Management by 160.5% during the 1st quarter. Bank of America Corp DE now owns 3,268,982 shares of the financial services provider’s stock worth $106,961,000 after acquiring an additional 2,013,890 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Brookfield Asset Management by 44.6% during the 4th quarter. Mackenzie Financial Corp now owns 6,341,977 shares of the financial services provider’s stock worth $254,842,000 after acquiring an additional 1,955,842 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM traded down $0.09 during midday trading on Tuesday, reaching $38.45. The company had a trading volume of 2,250,405 shares, compared to its average volume of 1,115,179. The stock’s fifty day moving average price is $41.10 and its 200-day moving average price is $37.42. The stock has a market capitalization of $15.89 billion, a P/E ratio of 34.11, a PEG ratio of 1.52 and a beta of 1.68. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $1.13 billion during the quarter. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. During the same quarter last year, the firm posted $0.31 EPS. As a group, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.49 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.32. Brookfield Asset Management’s payout ratio is 134.51%.

Wall Street Analyst Weigh In

BAM has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $45.00 in a report on Monday, December 18th. TD Securities reduced their price target on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a research report on Tuesday, January 9th. CIBC lifted their price target on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Royal Bank of Canada lifted their price target on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Finally, Scotiabank lifted their price target on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five 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 “Moderate Buy” and a consensus target price of $42.20.

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.