Wellington Management Group LLP Sells 37,979 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Wellington Management Group LLP lessened its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 10.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 341,904 shares of the financial services provider’s stock after selling 37,979 shares during the period. Wellington Management Group LLP owned 0.09% of Brookfield Asset Management worth $13,737,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bfsg LLC bought a new stake in Brookfield Asset Management in the 4th quarter worth $51,000. Anchor Investment Management LLC bought a new stake in shares of Brookfield Asset Management during the 4th quarter valued at about $119,000. EverSource Wealth Advisors LLC boosted its stake in shares of Brookfield Asset Management by 87.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,680 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 1,720 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Brookfield Asset Management during the 4th quarter valued at about $202,000. Finally, Heron Bay Capital Management bought a new stake in shares of Brookfield Asset Management during the 4th quarter valued at about $208,000. Institutional investors own 68.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Scotiabank cut their target price on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a research note on Thursday, May 9th. Royal Bank of Canada lifted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Finally, JPMorgan Chase & Co. began coverage on shares of Brookfield Asset Management in a research report on Wednesday, May 15th. They set a “neutral” rating and a $41.00 price target for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.14.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $38.01 on Thursday. The stock has a market capitalization of $16.81 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 1.73 and a beta of 1.67. Brookfield Asset Management Ltd. has a 52-week low of $28.35 and a 52-week high of $43.00. The company has a 50-day simple moving average of $39.08 and a two-hundred day simple moving average of $39.81.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $884.00 million during the quarter. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.52 annualized dividend and a yield of 4.00%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 140.74%.

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.