Zurcher Kantonalbank Zurich Cantonalbank Sells 11,795 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 8.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 136,207 shares of the financial services provider's stock after selling 11,795 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Brookfield Asset Management were worth $7,383,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings 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 acquiring an additional 168,170 shares during the period. Laffer Tengler Investments Inc. grew its holdings in shares of 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 worth $8,008,000 after acquiring an additional 28,768 shares during the period. Avior Wealth Management LLC grew its holdings in shares of Brookfield Asset Management by 2,857.1% during the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider's stock worth $489,000 after acquiring an additional 10,000 shares during the period. Plato Investment Management Ltd grew its holdings in shares of Brookfield Asset Management by 173.7% during the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider's stock worth $564,000 after acquiring an additional 6,580 shares during the period. Finally, Tacita Capital Inc grew its holdings in shares of Brookfield Asset Management by 19.3% during the 4th quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider's stock worth $2,585,000 after acquiring an additional 7,743 shares during the period. Hedge funds and other institutional investors own 68.41% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. BMO Capital Markets upped their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a research note on Thursday, February 13th. Scotiabank cut their price target on Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. The Goldman Sachs Group upped their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. 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 research note on Monday, February 10th. Finally, CIBC upped their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $56.71.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM traded up $0.97 during midday trading on Monday, hitting $47.90. 1,375,877 shares of the stock traded hands, compared to its average volume of 1,298,470. The firm has a 50-day moving average of $55.73 and a two-hundred day moving average of $53.07. The firm has a market capitalization of $21.23 billion, a P/E ratio of 36.29, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Equities analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a $0.4375 dividend. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management's dividend payout ratio (DPR) is currently 132.58%.

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.