Forsta AP Fonden Sells 26,300 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Forsta AP Fonden decreased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 187,900 shares of the financial services provider’s stock after selling 26,300 shares during the period. Forsta AP Fonden’s holdings in Brookfield Asset Management were worth $10,185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hara Capital LLC bought a new position in shares of Brookfield Asset Management in the third quarter valued at $27,000. RPg Family Wealth Advisory LLC purchased a new stake in Brookfield Asset Management in the third quarter worth $27,000. Versant Capital Management Inc raised its position in shares of Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 771 shares during the period. Continuum Advisory LLC boosted its holdings in shares of Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 329 shares during the period. Finally, Quent Capital LLC increased its position in shares of Brookfield Asset Management by 62.1% during the third quarter. Quent Capital LLC now owns 1,135 shares of the financial services provider’s stock valued at $54,000 after buying an additional 435 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $60.73 on Friday. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The company’s fifty day moving average is $56.22 and its 200 day moving average is $49.76. The stock has a market capitalization of $26.91 billion, a PE ratio of 53.74, a P/E/G ratio of 2.15 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping 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 return on equity of 85.03% and a net margin of 49.69%. During the same period last year, the company earned $0.35 earnings per share. As a group, research analysts forecast that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of research analyst reports. TD Securities upped their target price on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. UBS Group started coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. 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, January 14th. Finally, CIBC upped their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management presently has an average rating of “Hold” and a consensus target price of $56.13.

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.