Keybank National Association OH Sells 239 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Keybank National Association OH trimmed its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,963 shares of the financial services provider’s stock after selling 239 shares during the period. Keybank National Association OH’s holdings in Brookfield Asset Management were worth $269,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of BAM. RPg Family Wealth Advisory LLC acquired a new stake in Brookfield Asset Management in the third quarter valued at $27,000. Versant Capital Management Inc increased its holdings in Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 771 shares during the period. Continuum Advisory LLC increased its holdings in Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 329 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Brookfield Asset Management by 35.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 319 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in Brookfield Asset Management by 170.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,406 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 887 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BAM shares. CIBC increased their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. UBS Group started coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating for the company. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods decreased their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a report on Monday, January 13th. Finally, BMO Capital Markets increased their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Hold” and an average price target of $56.71.

Brookfield Asset Management Price Performance

Shares of BAM opened at $46.66 on Wednesday. The stock has a 50-day moving average of $56.19 and a 200-day moving average of $52.97. The company has a market cap of $20.67 billion, a PE ratio of 35.34, a P/E/G 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) (TSE:BAM.A) last announced 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 net margin of 54.47% and a return on equity of 81.16%. Analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a $0.4375 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.75%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 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.