Bessemer Group Inc. Sells 337,106 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Bessemer Group Inc. trimmed its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 92.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,788 shares of the financial services provider's stock after selling 337,106 shares during the quarter. Bessemer Group Inc.'s holdings in Brookfield Asset Management were worth $1,397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Faithward Advisors LLC bought a new position in Brookfield Asset Management in the fourth quarter worth approximately $207,000. APG Asset Management N.V. bought a new position in shares of Brookfield Asset Management in the 4th quarter worth $11,700,000. FIL Ltd grew its position in Brookfield Asset Management by 3.9% in the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider's stock valued at $833,581,000 after purchasing an additional 574,978 shares during the period. Bank of Montreal Can boosted its stake in Brookfield Asset Management by 3.7% during the 4th quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider's stock valued at $518,655,000 after purchasing an additional 339,072 shares during the last quarter. Finally, FMR LLC grew its holdings in Brookfield Asset Management by 2.3% during the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider's stock worth $1,064,983,000 after buying an additional 447,642 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Performance

BAM traded up $0.57 on Friday, reaching $48.56. The company had a trading volume of 1,224,243 shares, compared to its average volume of 1,435,407. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61. The company has a market cap of $79.51 billion, a price-to-earnings ratio of 36.79, a P/E/G ratio of 1.92 and a beta of 1.63. The business has a 50 day simple moving average of $51.14 and a 200 day simple moving average of $53.57.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were given a dividend of $0.4375 per share. The ex-dividend date was Friday, February 28th. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a dividend yield of 3.60%. Brookfield Asset Management's dividend payout ratio is 132.58%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BAM. BMO Capital Markets boosted their target price 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. CIBC upped their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Hsbc Global Res upgraded shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. Jefferies Financial Group dropped their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Finally, Bank of America raised shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Brookfield Asset Management has an average rating of "Moderate Buy" and an average price target of $57.15.

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.