Kathleen S. Wright Associates Inc. Has $1.15 Million Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Kathleen S. Wright Associates Inc. decreased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 7.0% in the first quarter, HoldingsChannel reports. The firm owned 28,339 shares of the financial services provider’s stock after selling 2,131 shares during the period. Kathleen S. Wright Associates Inc.’s holdings in Brookfield Asset Management were worth $1,154,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bfsg LLC acquired a new position in shares of Brookfield Asset Management in the 4th quarter valued at $51,000. GoalVest Advisory LLC acquired a new stake in Brookfield Asset Management during the 1st quarter worth about $100,000. Anchor Investment Management LLC acquired a new stake in Brookfield Asset Management during the 4th quarter worth about $119,000. EverSource Wealth Advisors LLC boosted its position in Brookfield Asset Management by 87.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,680 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 1,720 shares during the period. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Brookfield Asset Management during the 4th quarter worth about $202,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 0.4 %

NYSE BAM traded down $0.14 during trading on Friday, hitting $38.05. The company’s stock had a trading volume of 1,020,325 shares, compared to its average volume of 1,257,189. The firm has a 50 day moving average price of $39.05 and a 200 day moving average price of $39.82. The firm has a market cap of $16.88 billion, a P/E ratio of 35.23, a price-to-earnings-growth ratio of 1.72 and a beta of 1.67. Brookfield Asset Management Ltd. has a 52 week low of $28.35 and a 52 week high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The company had revenue of $884.00 million for the quarter. On average, equities analysts expect that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Friday, May 31st. Brookfield Asset Management’s payout ratio is presently 140.74%.

Wall Street Analysts Forecast Growth

BAM has been the subject of a number of research reports. Scotiabank decreased their price objective on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a research report on Thursday, May 9th. Royal Bank of Canada raised their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. started coverage on Brookfield Asset Management in a research report on Wednesday, May 15th. They set a “neutral” rating and a $41.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and an average price target of $42.14.

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.