LGT Capital Partners LTD. Sells 72,000 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

LGT Capital Partners LTD. cut its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 13.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 462,000 shares of the financial services provider’s stock after selling 72,000 shares during the period. LGT Capital Partners LTD.’s holdings in Brookfield Asset Management were worth $25,047,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of BAM. RPg Family Wealth Advisory LLC bought a new position in Brookfield Asset Management in the 3rd quarter valued at $27,000. Versant Capital Management Inc boosted its position in Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after buying an additional 771 shares during the last quarter. Continuum Advisory LLC boosted its position in Brookfield Asset Management by 42.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after buying an additional 329 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in Brookfield Asset Management by 35.1% in 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 buying an additional 319 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in Brookfield Asset Management by 170.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,406 shares of the financial services provider’s stock valued at $76,000 after buying an additional 887 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BAM has been the topic of a number of recent research reports. TD Securities increased their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, February 10th. UBS Group initiated coverage on Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating on the stock. Scotiabank decreased their price objective on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Keefe, Bruyette & Woods cut their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. Finally, Wells Fargo & Company cut their price target on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Asset Management has an average rating of “Hold” and an average price target of $56.71.

Brookfield Asset Management Trading Down 3.1 %

Shares of Brookfield Asset Management stock opened at $48.75 on Friday. The company has a market capitalization of $21.60 billion, a PE ratio of 36.93, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61. The stock’s fifty day simple moving average is $56.50 and its 200 day simple moving average is $52.79.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued 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%. Analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.59%. The ex-dividend date is Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.58%.

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.