Mitsubishi UFJ Trust & Banking Corp Sells 9,700 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 51.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,100 shares of the financial services provider's stock after selling 9,700 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Brookfield Asset Management were worth $493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Brookfield Asset Management by 11.6% during the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider's stock valued at $77,293,000 after acquiring an additional 168,170 shares in the last quarter. TD Asset Management Inc. grew its position in Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock valued at $903,323,000 after purchasing an additional 1,359,126 shares during the period. Laffer Tengler Investments Inc. increased its stake in Brookfield Asset Management by 24.2% during the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider's stock valued at $8,008,000 after purchasing an additional 28,768 shares in the last quarter. Plato Investment Management Ltd raised its holdings in Brookfield Asset Management by 173.7% during the fourth quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider's stock worth $564,000 after buying an additional 6,580 shares during the last quarter. Finally, Tacita Capital Inc lifted its stake in shares of Brookfield Asset Management by 19.3% in the fourth quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider's stock valued at $2,585,000 after buying an additional 7,743 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

BAM has been the subject of a number of recent research reports. Scotiabank decreased their price objective on Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating for the company in a report on Thursday, February 13th. TD Securities upped their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, February 10th. BMO Capital Markets raised their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the company a "market perform" rating in a research note on Thursday, February 13th. Hsbc Global Res raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. Finally, CIBC increased their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $58.04.

Brookfield Asset Management Trading Down 6.0 %

Shares of NYSE BAM traded down $2.85 during mid-day trading on Friday, hitting $44.21. The company had a trading volume of 2,754,013 shares, compared to its average volume of 1,385,374. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61. The company has a market capitalization of $72.39 billion, a price-to-earnings ratio of 33.49, a P/E/G ratio of 1.92 and a beta of 1.62. The stock's 50-day moving average price is $53.89 and its 200-day moving average price is $53.75.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating analysts' consensus estimates 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, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were paid a dividend of $0.4375 per share. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.96%. Brookfield Asset Management's dividend payout ratio (DPR) is currently 132.58%.

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.