River Road Asset Management LLC Has $5.67 Million Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

River Road Asset Management LLC reduced its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 42.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 104,711 shares of the financial services provider’s stock after selling 77,767 shares during the quarter. River Road Asset Management LLC’s holdings in Brookfield Asset Management were worth $5,674,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Midland Wealth Advisors LLC acquired a new position in Brookfield Asset Management during the 4th quarter worth approximately $203,000. Amundi raised its stake in Brookfield Asset Management by 16.4% during the 4th quarter. Amundi now owns 220,946 shares of the financial services provider’s stock worth $12,309,000 after buying an additional 31,123 shares during the period. Andra AP fonden raised its stake in Brookfield Asset Management by 19.0% during the 4th quarter. Andra AP fonden now owns 11,600 shares of the financial services provider’s stock worth $629,000 after buying an additional 1,851 shares during the period. Lindbrook Capital LLC raised its stake in Brookfield Asset Management by 20.5% during the 4th quarter. Lindbrook Capital LLC now owns 2,174 shares of the financial services provider’s stock worth $118,000 after buying an additional 370 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Brookfield Asset Management during the 4th quarter worth approximately $12,069,000. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. BMO Capital Markets increased their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods lowered their price objective on 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. Wells Fargo & Company lowered their price objective on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating for the company in a research note on Thursday, February 13th. Finally, Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $56.71.

Brookfield Asset Management Trading Down 0.5 %

Shares of NYSE BAM opened at $46.66 on Wednesday. The stock has a fifty day simple moving average of $56.19 and a two-hundred day simple moving average of $52.97. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The firm has a market cap of $20.67 billion, a price-to-earnings ratio of 35.34, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating 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 forecast 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 issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.75%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio is 132.58%.

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.