Cortland Associates Inc. MO Sells 9,156 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Cortland Associates Inc. MO lowered its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 565,620 shares of the financial services provider's stock after selling 9,156 shares during the quarter. Brookfield Asset Management makes up approximately 3.5% of Cortland Associates Inc. MO's investment portfolio, making the stock its 13th largest position. Cortland Associates Inc. MO owned approximately 0.13% of Brookfield Asset Management worth $30,651,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Brookfield Asset Management by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider's stock worth $77,293,000 after acquiring an additional 168,170 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of Brookfield Asset Management by 2,857.1% in the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider's stock valued at $489,000 after purchasing an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Brookfield Asset Management by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider's stock valued at $39,516,000 after purchasing an additional 45,670 shares during the last quarter. LGT Capital Partners LTD. raised its position in shares of Brookfield Asset Management by 11.5% in the third quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider's stock valued at $25,273,000 after purchasing an additional 55,000 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in shares of Brookfield Asset Management by 10.3% during the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider's stock worth $188,057,000 after buying an additional 370,383 shares during the last quarter. Institutional investors own 68.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BAM shares. Keefe, Bruyette & Woods decreased their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a research note on Monday, January 13th. UBS Group assumed coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a "buy" rating for the company. BMO Capital Markets boosted their price target on Brookfield Asset Management from $40.00 to $50.00 and gave the company a "market perform" rating in a research note on Tuesday, November 5th. Royal Bank of Canada increased their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $56.13.

Brookfield Asset Management Stock Down 1.1 %

Shares of NYSE:BAM traded down $0.66 during trading on Thursday, hitting $60.70. 600,305 shares of the company were exchanged, compared to its average volume of 1,229,036. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The company has a market capitalization of $26.90 billion, a P/E ratio of 54.15, a price-to-earnings-growth ratio of 2.15 and a beta of 1.45. The business's 50 day moving average is $56.22 and its 200-day moving average is $49.76.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same quarter in the previous year, the company posted $0.35 EPS. As a group, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current 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. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.50%. Brookfield Asset Management's dividend payout ratio (DPR) is 134.51%.

About Brookfield Asset Management

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.