Tandem Capital Management Corp ADV Sells 649 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Tandem Capital Management Corp ADV lowered its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,520 shares of the financial services provider’s stock after selling 649 shares during the period. Tandem Capital Management Corp ADV’s holdings in Brookfield Asset Management were worth $1,708,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BAM. CWM LLC grew its stake in shares of Brookfield Asset Management by 48.5% during the third quarter. CWM LLC now owns 1,959 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 640 shares during the period. SG Americas Securities LLC bought a new position in Brookfield Asset Management during the 3rd quarter worth about $238,000. CreativeOne Wealth LLC lifted its holdings in shares of Brookfield Asset Management by 6.0% in the third quarter. CreativeOne Wealth LLC now owns 20,131 shares of the financial services provider’s stock valued at $671,000 after purchasing an additional 1,146 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Brookfield Asset Management by 180.4% during the third quarter. Private Trust Co. NA now owns 1,057 shares of the financial services provider’s stock worth $35,000 after buying an additional 680 shares in the last quarter. Finally, Washington Trust Advisors Inc. raised its position in Brookfield Asset Management by 7,142.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 4,925 shares of the financial services provider’s stock valued at $164,000 after buying an additional 4,857 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Price Performance

Shares of NYSE BAM traded down $0.22 during midday trading on Thursday, reaching $38.96. 1,216,385 shares of the stock traded hands, compared to its average volume of 1,173,607. Brookfield Asset Management Ltd. has a one year low of $28.35 and a one year high of $43.00. The stock has a market capitalization of $16.10 billion, a PE ratio of 34.48, a P/E/G ratio of 1.52 and a beta of 1.68. The company’s 50 day moving average is $40.90 and its 200 day moving average is $37.73.

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

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.52 annualized dividend and a dividend yield of 3.90%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.32. Brookfield Asset Management’s dividend payout ratio is 134.51%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BAM shares. HSBC cut Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. TD Securities dropped their price target on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a research note on Tuesday, January 9th. Scotiabank raised their price target on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 8th. CIBC upped their target price on Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, BMO Capital Markets boosted their price target on Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.20.

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.