ExodusPoint Capital Management LP Trims Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

ExodusPoint Capital Management LP cut its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 71.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,400 shares of the financial services provider's stock after selling 21,212 shares during the quarter. ExodusPoint Capital Management LP's holdings in Brookfield Asset Management were worth $455,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Brookfield Asset Management by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider's stock worth $916,676,000 after purchasing an additional 263,660 shares during the last quarter. TD Asset Management Inc. increased its holdings in shares of Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock worth $903,323,000 after buying an additional 1,359,126 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Brookfield Asset Management by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider's stock valued at $483,963,000 after buying an additional 62,908 shares during the period. Norges Bank acquired a new position in Brookfield Asset Management in the fourth quarter valued at approximately $287,361,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Brookfield Asset Management by 103.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock worth $216,507,000 after acquiring an additional 2,031,995 shares during the period. Hedge funds and other institutional investors own 68.41% of the company's stock.

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Brookfield Asset Management Price Performance

Shares of BAM traded up $0.39 during midday trading on Tuesday, reaching $48.72. The stock had a trading volume of 1,390,623 shares, compared to its average volume of 1,447,747. The company's fifty day simple moving average is $51.52 and its two-hundred day simple moving average is $53.60. The company has a market cap of $79.78 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 1.92 and a beta of 1.63. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results 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 return on equity of 81.16% and a net margin of 54.47%. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.59%. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date was Friday, February 28th. Brookfield Asset Management's dividend payout ratio is 132.58%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BAM shares. TD Securities upped their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Wells Fargo & Company lowered their target price on shares of Brookfield Asset Management from $50.00 to $48.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. UBS Group started coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They issued a "buy" rating on the stock. Hsbc Global Res upgraded shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. Finally, BMO Capital Markets upped their price target 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.