QV Investors Inc. Sells 140,546 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

QV Investors Inc. trimmed its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 25.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 414,765 shares of the financial services provider's stock after selling 140,546 shares during the period. Brookfield Asset Management accounts for about 2.3% of QV Investors Inc.'s investment portfolio, making the stock its 15th biggest holding. QV Investors Inc. owned about 0.09% of Brookfield Asset Management worth $22,483,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of BAM. Hara Capital LLC purchased a new position in Brookfield Asset Management during the third quarter valued at $27,000. RPg Family Wealth Advisory LLC bought a new position in Brookfield Asset Management in the 3rd quarter worth about $27,000. Richardson Financial Services Inc. boosted its stake in Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider's stock worth $37,000 after purchasing an additional 755 shares in the last quarter. Versant Capital Management Inc grew its position in Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 771 shares during the last quarter. Finally, Continuum Advisory LLC increased its stake in Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a "buy" rating in a report on Monday, November 11th. TD Securities increased their target price on Brookfield Asset Management from $61.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Scotiabank boosted their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a "sector outperform" rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods dropped their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a research report on Monday. Finally, Wells Fargo & Company boosted their target price on Brookfield Asset Management from $51.00 to $56.00 and gave the stock an "underweight" rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $54.46.

Brookfield Asset Management Stock Performance

Shares of BAM stock traded down $0.14 during mid-day trading on Monday, reaching $51.93. 3,338,241 shares of the company's stock traded hands, compared to its average volume of 1,385,420. The firm has a market capitalization of $23.01 billion, a PE ratio of 45.96, a price-to-earnings-growth ratio of 2.43 and a beta of 1.45. Brookfield Asset Management Ltd. has a 12 month low of $37.19 and a 12 month high of $59.58. The firm has a 50 day moving average price of $56.02 and a two-hundred day moving average price of $48.18.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same quarter in the previous year, the firm earned $0.35 earnings per share. As a group, equities analysts expect that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Friday, November 29th. Brookfield Asset Management's payout ratio is currently 134.51%.

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.