Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Kathleen S. Wright Associates Inc.

Kathleen S. Wright Associates Inc. decreased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,339 shares of the financial services provider’s stock after selling 2,131 shares during the quarter. Kathleen S. Wright Associates Inc.’s holdings in Brookfield Asset Management were worth $1,154,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BAM. Norges Bank purchased a new stake in shares of Brookfield Asset Management during the fourth quarter worth $239,421,000. FIL Ltd grew its holdings in shares of Brookfield Asset Management by 66.1% in the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock valued at $454,424,000 after purchasing an additional 4,501,410 shares during the period. Beutel Goodman & Co Ltd. grew its holdings in shares of Brookfield Asset Management by 114.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock valued at $279,387,000 after purchasing an additional 3,695,774 shares during the period. TD Asset Management Inc grew its holdings in shares of Brookfield Asset Management by 29.2% in the fourth quarter. TD Asset Management Inc now owns 11,498,183 shares of the financial services provider’s stock valued at $464,078,000 after purchasing an additional 2,595,793 shares during the period. Finally, Capital World Investors grew its holdings in shares of Brookfield Asset Management by 10.0% in the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock valued at $986,656,000 after purchasing an additional 2,241,372 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BAM shares. Scotiabank dropped their price objective on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a report on Thursday, May 9th. JPMorgan Chase & Co. started coverage on shares of Brookfield Asset Management in a report on Wednesday, May 15th. They issued a “neutral” rating and a $41.00 price objective for the company. Finally, Royal Bank of Canada upped their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five 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 an average rating of “Moderate Buy” and a consensus target price of $42.14.

Brookfield Asset Management Trading Down 0.4 %

NYSE:BAM traded down $0.14 during mid-day trading on Friday, hitting $38.05. The stock had a trading volume of 1,020,325 shares, compared to its average volume of 1,257,189. The stock has a 50-day simple moving average of $39.05 and a two-hundred day simple moving average of $39.82. The company has a market capitalization of $16.88 billion, a PE ratio of 35.23, a PEG ratio of 1.72 and a beta of 1.67. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. The firm had revenue of $884.00 million for the quarter. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. Sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.52 annualized dividend and a yield of 3.99%. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

About Brookfield Asset Management

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.