Schneider Downs Wealth Management Advisors LP Decreases Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Schneider Downs Wealth Management Advisors LP cut its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 14.2% during the fourth quarter, HoldingsChannel reports. The firm owned 7,149 shares of the financial services provider’s stock after selling 1,179 shares during the quarter. Schneider Downs Wealth Management Advisors LP’s holdings in Brookfield Asset Management were worth $387,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Hara Capital LLC bought a new position in Brookfield Asset Management in the third quarter worth approximately $27,000. RPg Family Wealth Advisory LLC bought a new position in Brookfield Asset Management in the third quarter worth approximately $27,000. Versant Capital Management Inc grew its stake in 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 worth $44,000 after purchasing an additional 771 shares in the last quarter. Continuum Advisory LLC grew its stake in 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 purchasing an additional 329 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in Brookfield Asset Management by 35.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 319 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 0.8 %

Shares of Brookfield Asset Management stock opened at $57.36 on Thursday. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The business has a 50-day moving average price of $56.71 and a 200 day moving average price of $52.16. The firm has a market cap of $25.42 billion, a PE ratio of 43.45, a P/E/G ratio of 1.92 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. On average, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.4375 per share. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management’s payout ratio is 115.15%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group upped their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. TD Securities upped their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Finally, CIBC upped their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Three analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $56.71.

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.