Horizon Kinetics Asset Management LLC Trims Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Horizon Kinetics Asset Management LLC lowered its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,360 shares of the financial services provider's stock after selling 6,220 shares during the quarter. Horizon Kinetics Asset Management LLC owned 0.05% of Brookfield Asset Management worth $12,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Tandem Capital Management Corp ADV grew its holdings in shares of Brookfield Asset Management by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider's stock worth $2,119,000 after acquiring an additional 175 shares during the period. Public Sector Pension Investment Board grew its holdings in shares of Brookfield Asset Management by 0.4% in the third quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider's stock worth $2,201,000 after acquiring an additional 188 shares during the period. Gold Investment Management Ltd. grew its holdings in Brookfield Asset Management by 0.5% during the fourth quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider's stock valued at $2,271,000 after purchasing an additional 219 shares during the period. Procyon Advisors LLC grew its holdings in 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 valued at $505,000 after purchasing an additional 249 shares during the period. Finally, Pathstone Holdings LLC grew its holdings in 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. Hedge funds and other institutional investors own 68.41% of the company's stock.

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Analysts Set New Price Targets

BAM has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Wells Fargo & Company decreased their target price on Brookfield Asset Management from $55.00 to $54.00 and set an "underweight" rating on the stock in a research report on Thursday, February 13th. Scotiabank decreased their target price on Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. CIBC boosted their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, TD Securities boosted their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given 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 a consensus rating of "Hold" and a consensus price target of $56.71.

Brookfield Asset Management Trading Up 3.3 %

Shares of BAM traded up $1.58 during midday trading on Wednesday, hitting $50.06. 627,998 shares of the company's stock traded hands, compared to its average volume of 1,296,985. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61. The firm's fifty day moving average is $55.48 and its 200-day moving average is $53.18. The stock has a market capitalization of $22.18 billion, a price-to-earnings ratio of 37.85, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its 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, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a $0.4375 dividend. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.50%. Brookfield Asset Management's dividend payout ratio (DPR) is 132.58%.

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.