FORA Capital LLC Cuts Position in Brookfield Asset Management Ltd. (NYSE:BAM)

FORA Capital LLC lowered its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 32.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,968 shares of the financial services provider's stock after selling 15,020 shares during the quarter. FORA Capital LLC's holdings in Brookfield Asset Management were worth $1,512,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in BAM. Confluence Investment Management LLC raised its holdings in Brookfield Asset Management by 382.6% during the second quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider's stock worth $3,420,000 after purchasing an additional 71,263 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Brookfield Asset Management by 2,857.1% in the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider's stock valued at $489,000 after buying an additional 10,000 shares during the period. Intact Investment Management Inc. purchased a new stake in shares of Brookfield Asset Management in the second quarter valued at approximately $4,825,000. CIBC Asset Management Inc grew its holdings in Brookfield Asset Management by 10.3% during the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider's stock worth $188,057,000 after acquiring an additional 370,383 shares during the period. Finally, LGT Capital Partners LTD. raised its position in 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 worth $25,273,000 after acquiring an additional 55,000 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Price Performance

BAM traded down $0.55 during trading on Thursday, hitting $57.26. The company's stock had a trading volume of 665,753 shares, compared to its average volume of 1,255,638. Brookfield Asset Management Ltd. has a twelve month low of $33.45 and a twelve month high of $58.53. The stock has a market cap of $25.36 billion, a PE ratio of 50.67, a PEG ratio of 2.31 and a beta of 1.42. The firm's 50 day moving average price is $51.84 and its 200-day moving average price is $44.33.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $1.12 billion during 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 period in the prior year, the firm posted $0.35 earnings per share. Equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.65%. Brookfield Asset Management's payout ratio is 134.51%.

Analysts Set New Price Targets

Several equities research analysts have commented on BAM shares. TD Securities boosted their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. StockNews.com upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Thursday, November 21st. BMO Capital Markets upped their price target on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a "market perform" rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. dropped their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $53.46.

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.