DAVENPORT & Co LLC Sells 13,569 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

DAVENPORT & Co LLC lowered its position in shares of Brookfield Asset Management Ltd. (NYSE:BAMFree Report) (TSE:BAM.A) by 0.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,324,763 shares of the financial services provider’s stock after selling 13,569 shares during the quarter. Brookfield Asset Management comprises approximately 0.9% of DAVENPORT & Co LLC’s investment portfolio, making the stock its 21st largest position. DAVENPORT & Co LLC’s holdings in Brookfield Asset Management were worth $134,141,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Trust Co. NA grew its position in Brookfield Asset Management by 180.4% in the 3rd quarter. Private Trust Co. NA now owns 1,057 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 680 shares during the period. BNP Paribas Arbitrage SA grew its position in Brookfield Asset Management by 35.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,057 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 277 shares during the period. Signaturefd LLC grew its position in Brookfield Asset Management by 106.4% in the 3rd quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 764 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Brookfield Asset Management by 39.6% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 500 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Brookfield Asset Management by 21.9% during the 3rd quarter. Rhumbline Advisers now owns 1,844 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 331 shares during the period. Institutional investors own 68.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BAM shares. Scotiabank boosted their price objective on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating and upped their target price for the stock from $33.00 to $45.00 in a report on Monday, December 18th. TD Securities decreased their price target on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a report on Tuesday, January 9th. HSBC downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, Royal Bank of Canada lifted their target price on Brookfield Asset Management from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.20.

View Our Latest Analysis on Brookfield Asset Management

Brookfield Asset Management Stock Down 2.1 %

NYSE BAM traded down $0.90 during trading hours on Tuesday, hitting $41.04. 1,411,732 shares of the company were exchanged, compared to its average volume of 1,078,343. Brookfield Asset Management Ltd. has a 52 week low of $28.35 and a 52 week high of $43.00. The stock has a 50-day moving average price of $41.01 and a 200 day moving average price of $36.99. The stock has a market cap of $16.96 billion, a PE ratio of 36.32, a price-to-earnings-growth ratio of 1.52 and a beta of 1.68.

Brookfield Asset Management (NYSE:BAMGet Free Report) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. The company had revenue of $1.13 billion for the quarter. During the same quarter in the previous year, the company posted $0.31 EPS. As a group, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.56 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.70%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, February 28th. Brookfield Asset Management’s payout ratio is 134.51%.

Brookfield Asset Management Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Brookfield Asset Management (NYSE:BAM)

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