Massachusetts Financial Services Co. MA Sells 384,564 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Massachusetts Financial Services Co. MA decreased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,506,606 shares of the financial services provider's stock after selling 384,564 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.24% of Brookfield Asset Management worth $298,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of Brookfield Asset Management by 31.3% in the fourth quarter. Geode Capital Management LLC now owns 2,116,337 shares of the financial services provider's stock worth $117,171,000 after purchasing an additional 504,478 shares during the period. Franklin Resources Inc. raised its holdings in shares of Brookfield Asset Management by 15.7% during the 4th quarter. Franklin Resources Inc. now owns 146,731 shares of the financial services provider's stock valued at $7,948,000 after buying an additional 19,860 shares in the last quarter. Summit Financial LLC bought a new stake in Brookfield Asset Management in the 4th quarter worth approximately $366,000. O Shaughnessy Asset Management LLC grew its position in Brookfield Asset Management by 64.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 171,206 shares of the financial services provider's stock valued at $9,274,000 after acquiring an additional 67,073 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of Brookfield Asset Management in the 4th quarter valued at $152,000. 68.41% of the stock is currently owned by institutional investors.

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Brookfield Asset Management Stock Down 1.3 %

Shares of NYSE BAM traded down $0.59 during midday trading on Monday, hitting $43.65. The stock had a trading volume of 1,412,595 shares, compared to its average volume of 1,386,056. The company has a market cap of $71.46 billion, a P/E ratio of 32.88, a PEG ratio of 1.92 and a beta of 1.62. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61. The business's 50 day moving average is $53.89 and its 200-day moving average is $53.75.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced 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 net margin of 54.47% and a return on equity of 81.16%. As a group, analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 4.01%. The ex-dividend date was 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%.

Analysts Set New Price Targets

Several research analysts have recently commented on BAM shares. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a report on Thursday, February 13th. UBS Group began coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a "buy" rating for the company. TD Securities lifted their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research report on Monday, February 10th. Scotiabank decreased their target price on Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Finally, CIBC raised their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.04.

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.