Crossmark Global Holdings Inc. Sells 9,030 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Crossmark Global Holdings Inc. cut its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 30.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,444 shares of the financial services provider's stock after selling 9,030 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Brookfield Asset Management were worth $967,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Round Rock Advisors LLC purchased a new position in Brookfield Asset Management during the 3rd quarter valued at about $244,000. Bridges Investment Management Inc. purchased a new stake in shares of Brookfield Asset Management in the third quarter worth $373,000. Fiera Capital Corp increased its holdings in shares of Brookfield Asset Management by 75.7% in the third quarter. Fiera Capital Corp now owns 69,358 shares of the financial services provider's stock worth $3,282,000 after purchasing an additional 29,882 shares during the last quarter. Hara Capital LLC bought a new position in shares of Brookfield Asset Management during the 3rd quarter valued at approximately $27,000. Finally, Principal Financial Group Inc. grew its stake in Brookfield Asset Management by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider's stock worth $419,400,000 after acquiring an additional 24,409 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their target price on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an "underperform" rating in a research note on Tuesday, November 5th. The Goldman Sachs Group raised their target price on Brookfield Asset Management from $47.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Jefferies Financial Group began coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They issued a "hold" rating and a $43.00 target price for the company. CIBC raised their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an "outperformer" rating in a research report on Friday, July 19th. Finally, StockNews.com lowered shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Brookfield Asset Management has a consensus rating of "Hold" and a consensus price target of $52.54.

Brookfield Asset Management Stock Down 0.4 %

NYSE BAM traded down $0.25 during midday trading on Friday, hitting $55.82. The company had a trading volume of 311,674 shares, compared to its average volume of 1,264,778. Brookfield Asset Management Ltd. has a fifty-two week low of $33.06 and a fifty-two week high of $58.53. The stock has a market cap of $24.73 billion, a price-to-earnings ratio of 49.73, a P/E/G ratio of 2.36 and a beta of 1.42. The firm has a fifty day simple moving average of $49.67 and a two-hundred day simple moving average of $43.25.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The business had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the previous year, the firm earned $0.35 earnings per share. As a group, equities analysts predict that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.72%. Brookfield Asset Management's dividend payout ratio is currently 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.