CANADA LIFE ASSURANCE Co Sells 20,104 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

CANADA LIFE ASSURANCE Co reduced its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 300,112 shares of the financial services provider's stock after selling 20,104 shares during the period. CANADA LIFE ASSURANCE Co owned 0.07% of Brookfield Asset Management worth $16,211,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BAM. Norges Bank bought a new position in shares of Brookfield Asset Management during the fourth quarter worth about $287,361,000. William Blair Investment Management LLC acquired a new position in shares of Brookfield Asset Management during the 4th quarter valued at $204,169,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Brookfield Asset Management by 103.4% during the 4th 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 purchasing an additional 2,031,995 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Brookfield Asset Management in the 4th quarter valued at about $94,122,000. Finally, TD Asset Management Inc. increased its position in Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock valued at $903,323,000 after buying an additional 1,359,126 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on BAM. Scotiabank lowered their price objective on shares of Brookfield Asset Management from $62.50 to $58.00 and set a "sector outperform" rating on the stock in a report on Monday, April 7th. Jefferies Financial Group dropped their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Hsbc Global Res raised Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. Bank of America upgraded Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a report on Thursday, April 10th. Finally, CIBC upped their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.15.

Brookfield Asset Management Trading Up 3.6 %

Shares of NYSE:BAM traded up $1.83 during mid-day trading on Thursday, reaching $52.42. The company had a trading volume of 1,432,233 shares, compared to its average volume of 1,434,448. The company's 50-day moving average price is $50.49 and its 200-day moving average price is $53.61. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61. The firm has a market cap of $85.83 billion, a price-to-earnings ratio of 39.71, a PEG ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate 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, 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 declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were given a $0.4375 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.34%. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. Brookfield Asset Management's payout ratio is 132.58%.

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.