Lipe & Dalton Sells 300 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Lipe & Dalton trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,623 shares of the financial services provider’s stock after selling 300 shares during the period. Lipe & Dalton’s holdings in Brookfield Asset Management were worth $2,034,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BAM. Private Trust Co. NA grew its holdings in Brookfield Asset Management by 180.4% during the 3rd quarter. Private Trust Co. NA now owns 1,057 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 680 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake 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 acquiring an additional 277 shares in the last quarter. Signaturefd LLC grew its stake 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 acquiring an additional 764 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in Brookfield Asset Management by 39.6% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 500 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Brookfield Asset Management by 21.9% in the 3rd quarter. Rhumbline Advisers now owns 1,844 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 331 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Performance

NYSE:BAM traded down $0.09 during midday trading on Tuesday, reaching $38.45. 2,250,405 shares of the stock traded hands, compared to its average volume of 1,115,179. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $43.00. The business has a 50-day moving average of $41.10 and a two-hundred day moving average of $37.42. The stock has a market capitalization of $15.89 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 1.52 and a beta of 1.68.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. The company had revenue of $1.13 billion during the quarter. During the same period in the previous year, the company earned $0.31 EPS. Research analysts anticipate that Brookfield Asset Management Ltd. will post 1.49 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.38 per share. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.52 dividend on an annualized basis and a yield of 3.95%. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BAM. Deutsche Bank Aktiengesellschaft upgraded 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 research note on Monday, December 18th. HSBC downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. TD Securities dropped their target price on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a research note on Tuesday, January 9th. BMO Capital Markets upped their price target on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. Finally, CIBC upped their price target on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Asset Management has an average rating of “Moderate Buy” and a consensus target price of $42.20.

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.