Brookfield Asset Management Ltd. (NYSE:BAM) Stock Holdings Trimmed by Wellington Management Group LLP

Wellington Management Group LLP cut its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 331,317 shares of the financial services provider's stock after selling 18,951 shares during the period. Wellington Management Group LLP owned 0.07% of Brookfield Asset Management worth $17,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Brookfield Asset Management in the 4th quarter valued at $287,361,000. William Blair Investment Management LLC purchased a new position in Brookfield Asset Management during the fourth quarter worth about $204,169,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Brookfield Asset Management by 103.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock valued at $216,507,000 after purchasing an additional 2,031,995 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Brookfield Asset Management during the 4th quarter worth approximately $94,122,000. Finally, TD Asset Management Inc. lifted its holdings in Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock valued at $903,323,000 after acquiring an additional 1,359,126 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BAM shares. Bank of America raised Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price objective for the company in a research report on Thursday. TD Securities boosted their price target 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. Jefferies Financial Group reduced their price objective on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company cut their price target on Brookfield Asset Management from $50.00 to $48.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Finally, Scotiabank cut their target price on shares of Brookfield Asset Management from $62.50 to $58.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.75.

Brookfield Asset Management Stock Up 1.5 %

Shares of NYSE:BAM traded up $0.70 during trading on Monday, reaching $48.01. The stock had a trading volume of 208,531 shares, compared to its average volume of 1,441,723. The stock has a market cap of $78.61 billion, a P/E ratio of 36.37, a PEG ratio of 1.92 and a beta of 1.63. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The business has a fifty day moving average price of $51.89 and a 200-day moving average price of $53.62.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping 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, equities analysts forecast 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 was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were given a $0.4375 dividend. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date was Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.64%. Brookfield Asset Management's dividend payout ratio (DPR) is 132.58%.

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.