Douglass Winthrop Advisors LLC Sells 12,921 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Douglass Winthrop Advisors LLC reduced its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,657,567 shares of the financial services provider's stock after selling 12,921 shares during the period. Brookfield Asset Management comprises 2.8% of Douglass Winthrop Advisors LLC's holdings, making the stock its 10th largest position. Douglass Winthrop Advisors LLC owned about 0.60% of Brookfield Asset Management worth $144,078,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BAM. Tandem Capital Management Corp ADV boosted its stake in shares of Brookfield Asset Management by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider's stock worth $2,119,000 after acquiring an additional 175 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of Brookfield Asset Management by 0.4% during the third quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider's stock valued at $2,201,000 after acquiring an additional 188 shares during the last quarter. Gold Investment Management Ltd. raised its position in Brookfield Asset Management by 0.5% in the fourth quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider's stock valued at $2,271,000 after purchasing an additional 219 shares during the period. Procyon Advisors LLC raised its holdings in shares of Brookfield Asset Management by 2.7% in the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider's stock valued at $505,000 after buying an additional 249 shares during the period. Finally, Pathstone Holdings LLC increased its stake in Brookfield Asset Management by 1.0% during the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider's stock worth $1,379,000 after purchasing an additional 278 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

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Brookfield Asset Management Price Performance

Brookfield Asset Management stock traded up $0.30 during mid-day trading on Tuesday, hitting $51.74. 1,098,896 shares of the company were exchanged, compared to its average volume of 1,308,736. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The company has a market capitalization of $22.93 billion, a P/E ratio of 39.20, a PEG ratio of 1.92 and a beta of 1.50. The business's 50 day simple moving average is $55.17 and its two-hundred day simple moving average is $53.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Friday, February 28th. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. Brookfield Asset Management's payout ratio is currently 132.58%.

Analyst Upgrades and Downgrades

BAM has been the subject of a number of analyst reports. StockNews.com raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Thursday, March 20th. Wells Fargo & Company lowered their price target on shares of Brookfield Asset Management from $54.00 to $50.00 and set an "underweight" rating for the company in a report on Thursday, March 20th. TD Securities raised their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a report on Monday, February 10th. Hsbc Global Res upgraded shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. Finally, Keefe, Bruyette & Woods cut their price target on 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. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $56.38.

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.