Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lessened its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 40.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,653,004 shares of the financial services provider's stock after selling 1,769,336 shares during the quarter. Beutel Goodman & Co Ltd. owned 0.60% of Brookfield Asset Management worth $143,810,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BAM. Tandem Capital Management Corp ADV boosted its position in shares of Brookfield Asset Management by 0.4% during the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider's stock valued at $2,119,000 after buying an additional 175 shares during the period. Public Sector Pension Investment Board grew its position in Brookfield Asset Management by 0.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider's stock valued at $2,201,000 after acquiring an additional 188 shares during the last quarter. Gold Investment Management Ltd. increased its stake in Brookfield Asset Management by 0.5% in the fourth quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider's stock worth $2,271,000 after purchasing an additional 219 shares during the period. Procyon Advisors LLC lifted its position in shares of Brookfield Asset Management by 2.7% during the fourth quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider's stock worth $505,000 after purchasing an additional 249 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its stake in shares of Brookfield Asset Management by 1.0% during the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider's stock valued at $1,379,000 after purchasing an additional 278 shares during the period. 68.41% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of brokerages recently weighed in on BAM. Keefe, Bruyette & Woods decreased their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating for the company in a report on Monday, January 13th. HSBC upgraded Brookfield Asset Management from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Scotiabank reduced their price objective on Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating on the stock in a report on Thursday, February 13th. TD Securities upped their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Finally, BMO Capital Markets raised their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company a "market perform" rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $56.38.

Brookfield Asset Management Trading Up 1.7 %

Shares of NYSE:BAM traded up $0.86 during trading on Wednesday, reaching $50.36. The stock had a trading volume of 686,699 shares, compared to its average volume of 1,369,651. The firm's 50-day simple moving average is $54.55 and its 200 day simple moving average is $53.72. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The company has a market capitalization of $82.46 billion, a P/E ratio of 38.15, a PEG ratio of 1.92 and a beta of 1.62.

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 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.47%. The ex-dividend date was Friday, February 28th. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.38. Brookfield Asset Management's payout ratio is presently 132.58%.

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.