Tritonpoint Wealth LLC Lowers Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Tritonpoint Wealth LLC lowered its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,384 shares of the financial services provider's stock after selling 6,402 shares during the quarter. Tritonpoint Wealth LLC's holdings in Brookfield Asset Management were worth $4,139,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Brookfield Asset Management by 11.6% during 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 buying an additional 168,170 shares during the period. Avior Wealth Management LLC grew its holdings in Brookfield Asset Management by 2,857.1% in 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 period. Charles Schwab Investment Management Inc. grew its holdings in Brookfield Asset Management by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider's stock worth $39,516,000 after purchasing an additional 45,670 shares during the period. LGT Capital Partners LTD. increased its stake 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 valued at $25,273,000 after purchasing an additional 55,000 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Brookfield Asset Management by 10.3% during the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider's stock worth $188,057,000 after purchasing an additional 370,383 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating for the company in a research report on Monday, January 13th. Scotiabank raised their price target on shares of Brookfield Asset Management from $59.50 to $63.00 and gave the company a "sector outperform" rating in a research report on Monday. TD Securities raised their target price on Brookfield Asset Management from $61.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Wells Fargo & Company reduced their price target on shares of Brookfield Asset Management from $56.00 to $55.00 and set an "underweight" rating for the company in a research report on Tuesday, January 14th. Finally, BMO Capital Markets increased their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the company a "market perform" rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Brookfield Asset Management has an average rating of "Hold" and an average target price of $56.42.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM traded up $0.34 during midday trading on Wednesday, reaching $57.47. The stock had a trading volume of 888,808 shares, compared to its average volume of 1,263,415. The company has a market capitalization of $25.47 billion, a price-to-earnings ratio of 50.85, a price-to-earnings-growth ratio of 2.26 and a beta of 1.46. Brookfield Asset Management Ltd. has a 12-month low of $37.29 and a 12-month high of $62.61. The stock has a 50-day moving average of $56.44 and a 200-day moving average of $50.32.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business posted $0.35 earnings per share. As a group, analysts forecast that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.

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.