Confluence Investment Management LLC Sells 3,454 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Confluence Investment Management LLC lessened its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,418 shares of the financial services provider’s stock after selling 3,454 shares during the period. Confluence Investment Management LLC’s holdings in Brookfield Asset Management were worth $4,629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in Brookfield Asset Management by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 638,570 shares of the financial services provider’s stock worth $24,298,000 after buying an additional 5,368 shares during the period. Natixis Advisors LLC grew its position in shares of Brookfield Asset Management by 101.6% in the second quarter. Natixis Advisors LLC now owns 372,981 shares of the financial services provider’s stock valued at $14,192,000 after purchasing an additional 187,990 shares in the last quarter. TIAA Trust National Association bought a new stake in shares of Brookfield Asset Management during the 2nd quarter valued at $1,113,000. Fiera Capital Corp lifted its holdings in Brookfield Asset Management by 28.3% during the 2nd quarter. Fiera Capital Corp now owns 39,476 shares of the financial services provider’s stock worth $1,503,000 after purchasing an additional 8,698 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in Brookfield Asset Management by 8.5% in the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after purchasing an additional 1,066,015 shares during the period. Institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

BAM has been the topic of several analyst reports. BMO Capital Markets upped their price target on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Wells Fargo & Company upped their target price on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the stock an “underweight” rating in a report on Thursday, December 12th. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft increased their price objective on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, UBS Group initiated coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.54.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $54.34 on Friday. The stock has a market capitalization of $24.08 billion, a price-to-earnings ratio of 48.09, a price-to-earnings-growth ratio of 2.43 and a beta of 1.41. The company has a fifty day moving average of $55.86 and a 200-day moving average of $47.36. Brookfield Asset Management Ltd. has a 52-week low of $37.19 and a 52-week high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm earned $0.35 earnings per share. On average, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.80%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 134.51%.

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.