LGT Capital Partners LTD. Reduces Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

LGT Capital Partners LTD. lowered its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 462,000 shares of the financial services provider's stock after selling 72,000 shares during the quarter. LGT Capital Partners LTD. owned about 0.10% of Brookfield Asset Management worth $25,047,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Brookfield Asset Management by 66.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider's stock worth $92,896,000 after purchasing an additional 784,250 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Brookfield Asset Management during the third quarter valued at about $19,075,000. CIBC Asset Management Inc raised its stake in shares of Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider's stock valued at $188,057,000 after purchasing an additional 370,383 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of Brookfield Asset Management by 5,331.6% during the 4th quarter. Proficio Capital Partners LLC now owns 351,205 shares of the financial services provider's stock valued at $19,032,000 after acquiring an additional 344,739 shares in the last quarter. Finally, Bamco Inc. NY grew its stake in shares of Brookfield Asset Management by 31.5% in the 3rd quarter. Bamco Inc. NY now owns 1,100,435 shares of the financial services provider's stock valued at $52,040,000 after purchasing an additional 263,532 shares during the period. Institutional investors own 68.41% of the company's stock.

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Brookfield Asset Management Stock Down 3.9 %

NYSE BAM traded down $1.86 on Thursday, hitting $45.65. The company's stock had a trading volume of 3,674,451 shares, compared to its average volume of 1,299,807. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The firm has a market cap of $20.23 billion, a PE ratio of 34.58, a PEG ratio of 1.92 and a beta of 1.50. The company's 50-day moving average is $56.06 and its 200 day moving average is $52.93.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating 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, equities analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS 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 issued a $0.4375 dividend. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Friday, February 28th. Brookfield Asset Management's dividend payout ratio is presently 132.58%.

Analyst Ratings Changes

Several brokerages have weighed in on BAM. TD Securities upped their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a research note on Thursday, February 13th. UBS Group began coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a "buy" rating on the stock. Hsbc Global Res raised Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company reduced their target price on Brookfield Asset Management from $55.00 to $54.00 and set an "underweight" rating on the stock in a report on Thursday, February 13th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $56.71.

Brookfield Asset Management 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.