Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. lessened its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 26.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 201,351 shares of the financial services provider's stock after selling 71,811 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Brookfield Asset Management were worth $10,901,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of Brookfield Asset Management by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider's stock worth $77,293,000 after acquiring an additional 168,170 shares during the last quarter. Laffer Tengler Investments Inc. grew its holdings in shares of Brookfield Asset Management by 24.2% in the fourth 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 during the period. Avior Wealth Management LLC increased its position in Brookfield Asset Management by 2,857.1% during the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider's stock worth $489,000 after purchasing an additional 10,000 shares during the last quarter. Plato Investment Management Ltd raised its stake 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 purchasing an additional 6,580 shares during the period. Finally, Tacita Capital Inc raised its stake in Brookfield Asset Management by 19.3% during the fourth quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider's stock worth $2,585,000 after purchasing an additional 7,743 shares during the period. Institutional investors and hedge funds own 68.41% of the company's stock.

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Brookfield Asset Management Trading Up 3.8 %

Shares of NYSE BAM traded up $1.90 during trading hours on Monday, reaching $51.43. The stock had a trading volume of 1,592,587 shares, compared to its average volume of 1,308,788. The firm has a 50-day moving average of $55.17 and a 200-day moving average of $53.44. The firm has a market cap of $22.79 billion, a price-to-earnings ratio of 38.96, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61.

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

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a dividend of $0.4375 per share. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.40%. Brookfield Asset Management's dividend payout ratio is 132.58%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Scotiabank cut their price target on shares of Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating for the company in a report on Thursday, February 13th. Wells Fargo & Company reduced their target price on Brookfield Asset Management from $54.00 to $50.00 and set an "underweight" rating on the stock in a research report on Thursday. Hsbc Global Res upgraded Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. TD Securities raised their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. Finally, BMO Capital Markets upped their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a "market perform" rating in a research report on Thursday, February 13th. Two equities research 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 stock. According to MarketBeat.com, Brookfield Asset Management currently has an average rating of "Moderate Buy" and a consensus price target 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.