Oppenheimer & Co. Inc. Has $673,000 Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Oppenheimer & Co. Inc. cut its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM – Get Rating) (TSE:BAM.A) by 75.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,464 shares of the financial services provider’s stock after selling 72,757 shares during the period. Oppenheimer & Co. Inc.’s holdings in Brookfield Asset Management were worth $673,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in Brookfield Asset Management by 7,777.8% during the third quarter. Nisa Investment Advisors LLC now owns 709 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 700 shares during the last quarter. Ronald Blue Trust Inc. lifted its position in Brookfield Asset Management by 146.4% during the fourth quarter. Ronald Blue Trust Inc. now owns 1,003 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 596 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Brookfield Asset Management by 35.5% during the second quarter. BNP Paribas Arbitrage SA now owns 1,057 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 277 shares during the last quarter. RE Dickinson Investment Advisors LLC acquired a new stake in Brookfield Asset Management during the fourth quarter worth approximately $48,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Brookfield Asset Management by 669.8% during the third quarter. EverSource Wealth Advisors LLC now owns 1,632 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,420 shares during the period.

Brookfield Asset Management Stock Down 2.7 %

BAM stock opened at $31.55 on Friday. The firm has a market cap of $13.01 billion and a price-to-earnings ratio of 19.72. Brookfield Asset Management Ltd. has a 12-month low of $26.76 and a 12-month high of $36.50. The company’s fifty day simple moving average is $32.20 and its 200 day simple moving average is $34.64.

Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, February 8th. The financial services provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. The company had revenue of $958.10 million during the quarter, compared to the consensus estimate of $21.81 billion. Research analysts expect that Brookfield Asset Management Ltd. will post 1.4 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.06%. The ex-dividend date is Tuesday, May 30th. Brookfield Asset Management’s payout ratio is presently 80.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BAM shares. Keefe, Bruyette & Woods cut shares of Brookfield Asset Management to an “underperform” rating in a report on Tuesday, April 18th. JPMorgan Chase & Co. raised their target price on shares of Brookfield Asset Management from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, February 9th. StockNews.com started coverage on shares of Brookfield Asset Management in a report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 target price on shares of Brookfield Asset Management in a report on Tuesday, March 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Brookfield Asset Management has an average rating of “Moderate Buy” and a consensus price target of $43.57.

Insider Transactions at Brookfield Asset Management

In other Brookfield Asset Management news, Director Multi-Strategy Mast Brookfield sold 24,744 shares of the business’s stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $11.96, for a total value of $295,938.24. Following the transaction, the director now directly owns 21,104,923 shares in the company, valued at $252,414,879.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 11.00% of the stock is currently owned by insiders.

Brookfield Asset Management Company Profile

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Brookfield Asset Management Ltd. provides alternative asset management services. Its renewable power and transition business includes the ownership, operation, and development of hydroelectric, wind, solar, and energy transition power generating assets. The company's infrastructure business engages in the ownership, operation, and development of utilities, transport, midstream, data and sustainable resource assets.