Brookfield Asset Management Ltd. (NYSE:BAM) Stock Position Reduced by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC lessened its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,587 shares of the financial services provider’s stock after selling 1,059 shares during the period. Chemistry Wealth Management LLC’s holdings in Brookfield Asset Management were worth $1,007,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BAM. Avanza Fonder AB acquired a new stake in shares of Brookfield Asset Management during the 4th quarter worth approximately $997,000. Procyon Advisors LLC raised its position in shares of Brookfield Asset Management by 2.7% during the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 249 shares during the period. Ritholtz Wealth Management increased its position in Brookfield Asset Management by 166.9% in the 4th quarter. Ritholtz Wealth Management now owns 13,079 shares of the financial services provider’s stock valued at $709,000 after acquiring an additional 8,179 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in Brookfield Asset Management by 35.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 319 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in Brookfield Asset Management by 4.4% during the 4th quarter. Park Avenue Securities LLC now owns 19,771 shares of the financial services provider’s stock worth $1,072,000 after acquiring an additional 837 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $55.56 on Friday. The stock has a market capitalization of $24.62 billion, a price-to-earnings ratio of 49.17, a PEG ratio of 1.75 and a beta of 1.45. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $59.58. The company has a 50 day moving average price of $55.83 and a 200 day moving average price of $48.47.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same quarter in the prior year, the firm earned $0.35 EPS. On average, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of research analyst reports. BMO Capital Markets raised their price target on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Scotiabank raised their target price on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods reduced their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group increased their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company decreased their price objective on shares of Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a report on Tuesday. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $54.38.

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.