Brookfield Asset Management (NYSE:BAM) Trading Down 5.1% - Should You Sell?

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A's stock price dropped 5.1% during mid-day trading on Thursday . The stock traded as low as $49.92 and last traded at $51.20. Approximately 402,479 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 1,239,891 shares. The stock had previously closed at $53.97.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They set a "buy" rating for the company. BMO Capital Markets raised their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a report on Thursday, February 13th. StockNews.com lowered shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Thursday, January 9th. Keefe, Bruyette & Woods dropped 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. Finally, Wells Fargo & Company dropped their price objective on shares of Brookfield Asset Management from $55.00 to $54.00 and set an "underweight" rating for the company in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $56.71.

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Brookfield Asset Management Price Performance

The company's 50 day moving average price is $56.34 and its 200 day moving average price is $52.93. The firm has a market capitalization of $20.77 billion, a P/E ratio of 35.51, a PEG ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a $0.4375 dividend. The ex-dividend date is Friday, February 28th. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a yield of 3.73%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 132.58%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Castle Rock Wealth Management LLC boosted its stake in Brookfield Asset Management by 5.7% in the fourth quarter. Castle Rock Wealth Management LLC now owns 31,786 shares of the financial services provider's stock valued at $1,902,000 after acquiring an additional 1,709 shares during the last quarter. Capital A Wealth Management LLC bought a new position in Brookfield Asset Management in the fourth quarter valued at approximately $412,000. Ascent Group LLC boosted its position in shares of Brookfield Asset Management by 6.5% during the fourth quarter. Ascent Group LLC now owns 10,818 shares of the financial services provider's stock worth $586,000 after purchasing an additional 662 shares in the last quarter. Blue Sky Capital Consultants Group Inc. bought a new position in shares of Brookfield Asset Management during the fourth quarter worth $2,363,000. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Brookfield Asset Management by 26.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 43,634 shares of the financial services provider's stock worth $2,366,000 after purchasing an additional 9,113 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Company 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.