Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 9.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,519,191 shares of the financial services provider’s stock after selling 161,873 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.34% of Brookfield Asset Management worth $71,843,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BAM. Geode Capital Management LLC increased 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 valued at $77,293,000 after purchasing an additional 168,170 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of 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 acquiring an additional 10,000 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Brookfield Asset Management by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock valued at $39,516,000 after acquiring an additional 45,670 shares during the period. LGT Capital Partners LTD. raised its holdings in Brookfield Asset Management by 11.5% in the 3rd quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock worth $25,273,000 after purchasing an additional 55,000 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after purchasing an additional 370,383 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BAM shares. Deutsche Bank Aktiengesellschaft increased their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. BMO Capital Markets upped their price target on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. TD Securities lifted their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company raised their target price on Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday, December 12th. Finally, UBS Group started coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and a consensus target price of $54.54.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $54.68 on Friday. The company’s 50-day moving average is $55.86 and its two-hundred day moving average is $47.36. Brookfield Asset Management Ltd. has a 1-year low of $37.19 and a 1-year high of $59.58. The firm has a market capitalization of $24.23 billion, a price-to-earnings ratio of 48.39, a PEG ratio of 2.43 and a beta of 1.41.

Brookfield Asset Management (NYSE:BAM) (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, topping the consensus estimate 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 company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $0.35 earnings per share. As a group, equities analysts anticipate 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 announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given 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 2.78%. Brookfield Asset Management’s payout ratio is currently 134.51%.

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.