Tandem Capital Management Corp ADV Sells 649 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Tandem Capital Management Corp ADV cut its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 42,520 shares of the financial services provider’s stock after selling 649 shares during the period. Tandem Capital Management Corp ADV’s holdings in Brookfield Asset Management were worth $1,708,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BAM. FMR LLC lifted its holdings in shares of Brookfield Asset Management by 10.2% in the 3rd quarter. FMR LLC now owns 14,217,008 shares of the financial services provider’s stock valued at $473,859,000 after buying an additional 1,313,734 shares during the period. Vanguard Group Inc. lifted its position in shares of Brookfield Asset Management by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 10,402,885 shares of the financial services provider’s stock worth $346,832,000 after purchasing an additional 120,714 shares during the last quarter. TD Asset Management Inc increased its position in shares of Brookfield Asset Management by 5.7% during the third quarter. TD Asset Management Inc now owns 8,902,390 shares of the financial services provider’s stock worth $298,019,000 after purchasing an additional 477,431 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Brookfield Asset Management by 5.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,885,165 shares of the financial services provider’s stock valued at $229,551,000 after purchasing an additional 365,237 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of Brookfield Asset Management by 44.6% in the fourth quarter. Mackenzie Financial Corp now owns 6,341,977 shares of the financial services provider’s stock valued at $254,842,000 after buying an additional 1,955,842 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded down $0.22 during midday trading on Thursday, hitting $38.96. 1,216,385 shares of the stock were exchanged, compared to its average volume of 1,173,607. The stock has a market capitalization of $16.10 billion, a price-to-earnings ratio of 34.48, a P/E/G ratio of 1.52 and a beta of 1.68. Brookfield Asset Management Ltd. has a 12 month low of $28.35 and a 12 month high of $43.00. The business’s 50-day moving average price is $40.90 and its 200 day moving average price is $37.73.

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

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.90%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Analyst Ratings Changes

A number of analysts have issued reports on BAM shares. CIBC raised their price target on Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. BMO Capital Markets lifted their price objective on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, February 8th. HSBC lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Royal Bank of Canada raised their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Finally, Scotiabank upped 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 assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.20.

Brookfield Asset Management Company 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.