Dimensional Fund Advisors LP Sells 4,011 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Dimensional Fund Advisors LP lessened its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 38.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,318 shares of the financial services provider’s stock after selling 4,011 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Brookfield Asset Management were worth $342,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Bank of Montreal Can lifted its stake in shares of Brookfield Asset Management by 3.7% in the 4th quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider’s stock valued at $518,655,000 after purchasing an additional 339,072 shares during the last quarter. TD Asset Management Inc. raised its holdings in Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after purchasing an additional 1,359,126 shares in the last quarter. American Century Companies Inc. increased its position in shares of Brookfield Asset Management by 30.5% during the fourth quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider’s stock worth $4,033,000 after purchasing an additional 17,369 shares in the last quarter. Laffer Tengler Investments Inc. boosted its holdings in Brookfield Asset Management by 24.2% in the fourth quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock worth $8,008,000 after acquiring an additional 28,768 shares in the last quarter. Finally, Plato Investment Management Ltd raised its holdings in shares of Brookfield Asset Management by 173.7% in the fourth quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock worth $564,000 after buying an additional 6,580 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $59.72 on Friday. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61. The firm has a market cap of $96.29 billion, a price-to-earnings ratio of 45.24, a PEG ratio of 1.92 and a beta of 1.56. The stock’s 50-day moving average is $50.62 and its two-hundred day moving average is $54.25.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, research analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a $0.4375 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.93%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 124.11%.

Analyst Ratings Changes

BAM has been the topic of several research reports. Morgan Stanley increased their price target on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an “equal weight” rating in a report on Friday. TD Securities upped their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Jefferies Financial Group dropped their target price on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Brookfield Asset Management from $48.00 to $54.00 and gave the company an “underweight” rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.08.

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.