Raymond James Financial Services Advisors Inc. Trims Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Raymond James Financial Services Advisors Inc. cut its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,183 shares of the financial services provider’s stock after selling 1,675 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Brookfield Asset Management were worth $1,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of BAM. Private Trust Co. NA raised its position in shares of Brookfield Asset Management by 180.4% in the third quarter. Private Trust Co. NA now owns 1,057 shares of the financial services provider’s stock worth $35,000 after buying an additional 680 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Brookfield Asset Management by 35.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,057 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 277 shares in the last quarter. Signaturefd LLC boosted its position in shares of Brookfield Asset Management by 106.4% during the 3rd quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 764 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Brookfield Asset Management by 39.6% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 500 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Brookfield Asset Management by 21.9% in the third quarter. Rhumbline Advisers now owns 1,844 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 331 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Trading Down 1.8 %

BAM stock opened at $39.38 on Friday. The firm’s 50-day moving average price is $41.13 and its two-hundred day moving average price is $37.36. The stock has a market capitalization of $16.27 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 1.54 and a beta of 1.68. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $1.13 billion during the quarter. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. During the same period in the previous year, the company earned $0.31 EPS. Equities analysts predict that Brookfield Asset Management Ltd. will post 1.49 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were issued a $0.38 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.52 annualized dividend and a yield of 3.86%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.32. Brookfield Asset Management’s payout ratio is 134.51%.

Wall Street Analysts Forecast Growth

BAM has been the subject of a number of research reports. HSBC cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Royal Bank of Canada raised their price target on Brookfield Asset Management from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. TD Securities cut their price objective on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a report on Tuesday, January 9th. BMO Capital Markets raised their price objective on Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Finally, Deutsche Bank Aktiengesellschaft raised Brookfield Asset Management from a “hold” rating to a “buy” rating and upped their target price for the stock from $33.00 to $45.00 in a research note on Monday, December 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Brookfield Asset Management has an average rating of “Moderate Buy” and an average target price of $42.20.

About Brookfield Asset Management

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.